Short Interest in Cepton, Inc. (NASDAQ:CPTN) Grows By 10.1%

Cepton, Inc. (NASDAQ:CPTN) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 68,600 shares, an increase of 10.1% from the August 15th total of 62,300 shares. Based on an average daily volume of 47,400 shares, the short-interest ratio is currently 1.4 days. Currently, 1.1% of the company’s shares are short sold.

Cepton Stock Performance

Shares of NASDAQ CPTN traded up $0.02 during trading on Wednesday, reaching $3.06. The stock had a trading volume of 22,224 shares, compared to its average volume of 31,826. The business’s 50-day moving average price is $2.92 and its 200-day moving average price is $2.82. Cepton has a fifty-two week low of $2.38 and a fifty-two week high of $5.20. The company has a market cap of $48.72 million, a P/E ratio of -1.19 and a beta of 0.08.

Cepton (NASDAQ:CPTN) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.26. The business had revenue of $10.43 million for the quarter, compared to analyst estimates of $11.00 million.

Analyst Ratings Changes

Separately, Westpark Capital reaffirmed a “hold” rating on shares of Cepton in a research report on Wednesday, August 14th.

About Cepton

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 Cepton Ultra, a slimmest lidar with MagnoSteer technology and proprietary ASIC chipset, enabling a combination of 300-meter range at 10% reflectivity and 0.05° resolution; 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 extremely-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.