Cepton, Inc. (NASDAQ:CPTN – Get Rating) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 885,700 shares, a growth of 69.9% from the August 31st total of 521,400 shares. Approximately 2.2% of the company's shares are short sold. Based on an average trading volume of 1,070,000 shares, the short-interest ratio is presently 0.8 days.
Wall Street Analysts Forecast Growth
CPTN has been the subject of a number of research reports. Craig Hallum decreased their price target on shares of Cepton from $10.00 to $3.75 in a research report on Tuesday, August 9th. Northland Securities initiated coverage on Cepton in a research note on Wednesday, June 29th. They issued an "outperform" rating and a $5.50 target price for the company. JPMorgan Chase & Co. initiated coverage on Cepton in a research report on Tuesday, September 20th. They set a "neutral" rating on the stock. Finally, Royal Bank of Canada lowered their price objective on shares of Cepton from $4.00 to $2.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 9th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $8.31.
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Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. grew its holdings in shares of Cepton by 37.4% during the second quarter. Point72 Asset Management L.P. now owns 1,950,135 shares of the company's stock valued at $3,042,000 after purchasing an additional 530,446 shares during the last quarter. State Street Corp increased its holdings in shares of Cepton by 420.1% in the 2nd quarter. State Street Corp now owns 524,687 shares of the company's stock worth $819,000 after acquiring an additional 423,804 shares during the period. BlackRock Inc. bought a new stake in Cepton in the 1st quarter valued at about $1,178,000. Vanguard Group Inc. acquired a new position in Cepton during the 1st quarter valued at about $1,058,000. Finally, Personal Capital Advisors Corp bought a new position in Cepton in the 1st quarter worth about $570,000. 3.78% of the stock is owned by institutional investors and hedge funds.
Cepton Stock Down 0.5 %
NASDAQ CPTN traded down $0.01 during trading hours on Thursday, reaching $1.88. 5,423 shares of the company traded hands, compared to its average volume of 2,443,813. The company has a current ratio of 7.19, a quick ratio of 6.70 and a debt-to-equity ratio of 0.35. Cepton has a 12 month low of $1.01 and a 12 month high of $80.16. The company has a 50 day moving average of $1.62 and a two-hundred day moving average of $2.27.
Cepton (NASDAQ:CPTN – Get Rating) last released its earnings results on Monday, August 8th. The company reported ($0.09) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. The firm had revenue of $2.56 million for the quarter, compared to the consensus estimate of $2.20 million. As a group, analysts expect that Cepton will post -0.4 EPS for the current year.
About Cepton
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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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