Cepton, Inc. (NASDAQ:CPTN – Get Rating) was the recipient of a large growth in short interest in December. As of December 30th, there was short interest totalling 2,040,000 shares, a growth of 16.6% from the December 15th total of 1,750,000 shares. Based on an average daily trading volume, of 216,500 shares, the days-to-cover ratio is presently 9.4 days. Approximately 4.8% of the shares of the stock are sold short.

Insider Activity

In other news, CEO Jun Pei sold 100,000 shares of the stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $1.78, for a total value of $178,000.00. Following the sale, the chief executive officer now owns 28,850,306 shares of the company's stock, valued at $51,353,544.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 44.60% of the company's stock.

Institutional Investors Weigh In On Cepton

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE purchased a new stake in Cepton in the first quarter valued at $26,000. Jane Street Group LLC purchased a new stake in shares of Cepton during the 1st quarter worth about $47,000. Bank of New York Mellon Corp purchased a new position in shares of Cepton in the 1st quarter valued at about $53,000. Royal Bank of Canada purchased a new stake in shares of Cepton in the first quarter valued at approximately $54,000. Finally, BNP Paribas Arbitrage SNC purchased a new position in shares of Cepton during the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 3.78% of the company's stock.

Cepton Stock Performance

Cepton (NASDAQ:CPTN – Get Rating) last announced its earnings results on Tuesday, November 8th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.03. The firm had revenue of $1.80 million during the quarter, compared to analyst estimates of $3.50 million. As a group, equities research analysts forecast that Cepton will post -0.41 earnings per share for the current year.

Cepton Company Profile

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Cepton, Inc provides lidar-based solutions for automotive, smart cities, smart spaces, and smart industrial applications in the United States, Japan, and internationally. The company offers auto grade 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; Vista-T, a lidar solution with a range of up to 300m for ultra-long-range applications in ADAS L2+/L3 and AV L4/L5; 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.

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