Cepton, Inc. (NASDAQ:CPTN) Sees Large Decrease in Short Interest

Cepton, Inc. (NASDAQ:CPTN) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 651,900 shares, a drop of 42.8% from the August 15th total of 1,140,000 shares. Approximately 1.4% of the company’s shares are sold short. Based on an average daily trading volume, of 593,800 shares, the short-interest ratio is currently 1.1 days.

Insider Activity

In other news, CEO Jun Pei sold 250,000 shares of Cepton stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $0.78, for a total value of $195,000.00. Following the completion of the sale, the chief executive officer now directly owns 25,704,268 shares of the company’s stock, valued at approximately $20,049,329.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 289,730 shares of company stock valued at $217,249. Company insiders own 38.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CPTN. Bank of America Corp DE acquired a new stake in shares of Cepton in the first quarter valued at approximately $26,000. Allspring Global Investments Holdings LLC lifted its position in shares of Cepton by 215.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 56,677 shares of the company’s stock valued at $26,000 after buying an additional 38,729 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Cepton in the second quarter valued at approximately $27,000. Rhumbline Advisers acquired a new stake in shares of Cepton in the second quarter valued at approximately $27,000. Finally, BNP Paribas Arbitrage SNC acquired a new stake in shares of Cepton in the third quarter valued at approximately $32,000. 6.63% of the stock is owned by institutional investors and hedge funds.

Cepton Stock Up 12.8 %

Shares of Cepton stock traded up $0.06 during trading on Friday, reaching $0.52. 1,288,825 shares of the company were exchanged, compared to its average volume of 581,223. The firm has a market capitalization of $82.13 million, a price-to-earnings ratio of -1.33 and a beta of -0.03. The business has a 50-day moving average price of $0.62 and a 200-day moving average price of $0.53. Cepton has a twelve month low of $0.32 and a twelve month high of $2.76.

Cepton (NASDAQ:CPTN) last posted its quarterly earnings data on Monday, August 7th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The firm had revenue of $2.79 million for the quarter, compared to analyst estimates of $3.30 million. Cepton had a negative return on equity of 783.92% and a negative net margin of 804.94%. On average, equities research analysts forecast that Cepton will post -0.33 EPS for the current fiscal year.

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.