Short Interest in Cepton, Inc. (NASDAQ:CPTN) Expands By 6.8%

Cepton, Inc. (NASDAQ:CPTN) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 100,100 shares, an increase of 6.8% from the October 15th total of 93,700 shares. Approximately 2.1% of the shares of the stock are short sold. Based on an average daily volume of 38,600 shares, the short-interest ratio is presently 2.6 days.

Cepton Price Performance

CPTN stock opened at $2.70 on Friday. Cepton has a 1-year low of $2.38 and a 1-year high of $15.80. The business has a 50 day simple moving average of $3.76 and a two-hundred day simple moving average of $4.87. The company has a market capitalization of $42.72 million, a price-to-earnings ratio of -0.77 and a beta of 0.14.

Cepton (NASDAQ:CPTN) last posted its earnings results on Thursday, November 9th. The company reported ($0.58) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.12. The company had revenue of $3.83 million during the quarter, compared to analysts’ expectations of $5.10 million. Cepton had a negative net margin of 573.05% and a negative return on equity of 783.92%. Sell-side analysts anticipate that Cepton will post -3.3 EPS for the current fiscal year.

Institutional Trading of Cepton

Large investors have recently added to or reduced their stakes in the company. Westerly Capital Management LLC increased its stake in Cepton by 492.7% during the second quarter. Westerly Capital Management LLC now owns 4,000,598 shares of the company’s stock worth $1,940,000 after acquiring an additional 3,325,598 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Cepton by 625.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,226,689 shares of the company’s stock valued at $4,364,000 after purchasing an additional 1,919,915 shares during the last quarter. BlackRock Inc. raised its holdings in Cepton by 277.8% during the 3rd quarter. BlackRock Inc. now owns 1,942,713 shares of the company’s stock valued at $3,807,000 after buying an additional 1,428,543 shares during the period. State Street Corp lifted its position in Cepton by 420.1% in the second quarter. State Street Corp now owns 524,687 shares of the company’s stock worth $819,000 after buying an additional 423,804 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Cepton during the second quarter worth $110,000. Institutional investors own 6.63% of the company’s stock.

Cepton Company Profile

Cepton, Inc provides lidar-based solutions for automotive, smart cities, smart spaces, and smart industrial applications in the United States, Japan, China, and internationally. The company offers autograde lidar sensors, including Vista-X, a compact lidar solution with a range of up to 200m for long-range applications in ADAS L2+/L3, AV L4/L5, and suitable for smart infrastructure applications; and Nova, an ultra-small form factor lidar solution with a range of up to 30m for near-range applications in ADAS L2+/L3, AV L4/L5, and suitable for smart infrastructure applications.