Cepton (NASDAQ:CPTN) Releases Earnings Results, Hits Expectations

Cepton (NASDAQ:CPTN – Get Rating) released its earnings results on Tuesday. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.10), Yahoo Finance reports. The company had revenue of $1.58 million for the quarter, compared to the consensus estimate of $2.35 million. During the same quarter in the previous year, the company posted ($0.33) EPS. Cepton updated its FY 2023 guidance to EPS.

Cepton Trading Down 0.9 %

Shares of Cepton stock opened at $0.54 on Thursday. The stock has a market cap of $83.68 million, a P/E ratio of 2.25 and a beta of -0.18. The company has a quick ratio of 4.89, a current ratio of 5.33 and a debt-to-equity ratio of 0.75. Cepton has a 12-month low of $0.40 and a 12-month high of $4.60. The business’s 50 day moving average is $1.10 and its 200-day moving average is $1.52.

Hedge Funds Weigh In On Cepton

Several hedge funds and other institutional investors have recently made changes to their positions in CPTN. Nomura Holdings Inc. lifted its stake in Cepton by 493.7% in the fourth quarter. Nomura Holdings Inc. now owns 101,601 shares of the company’s stock valued at $129,000 after acquiring an additional 84,487 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Cepton by 554.7% in the 4th quarter. Bank of America Corp DE now owns 37,259 shares of the company’s stock valued at $47,000 after purchasing an additional 31,568 shares during the period. Bank of New York Mellon Corp lifted its stake in Cepton by 301.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 95,191 shares of the company’s stock valued at $187,000 after purchasing an additional 71,455 shares during the last quarter. California State Teachers Retirement System grew its holdings in Cepton by 460.2% during the third quarter. California State Teachers Retirement System now owns 18,638 shares of the company’s stock worth $37,000 after purchasing an additional 15,311 shares during the period. Finally, Jane Street Group LLC acquired a new position in Cepton during the third quarter worth approximately $52,000. 3.78% of the stock is owned by institutional investors.

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.