Cepton Inc. [CPTN] short interest falls, dropping by 1.15 million million shares


Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Cepton Inc. shares valued at $11,792 were sold by Qiu Ming on Aug 21. At $0.56 per share, Qiu Ming sold 21,057 shares. The insider’s holdings dropped to 266,117 shares worth approximately $0.14 million following the completion of this transaction.

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Also, Han Liqun sold 18,673 shares, netting a total of over 10,457 in proceeds. Following the sale of shares at $0.56 each, the insider now holds 512,855 shares.

Before that, Pei Jun had sold 250,000 shares from its account. In a trade valued at $195,000, the CEO and President traded Cepton Inc. shares for $0.78 each. Upon closing the transaction, the insider’s holdings decreased to 250,000 shares, worth approximately $13.62 million.

As published in their initiating research note from JP Morgan on September 20, 2022, Cepton Inc. [CPTN] has been a Neutral.

Analyzing CPTN Stock Performance

On Thursday, Cepton Inc. [NASDAQ: CPTN] plunged -9.47% to $0.53. The stock’s lowest price that day was $0.52, but it reached a high of $0.5909 in the same session. During the last five days, there has been a drop of approximately -14.29%. Over the course of the year, Cepton Inc. shares have dropped approximately -58.43%. Shares of the company reached a 52-week high of $1.4400 on 02/06/23 and a 52-week low of $0.3197 on 04/27/23. A 50-day SMA is recorded $0.6332, while a 200-day SMA reached $0.8348. Nevertheless, trading volume fell to 0.56 million shares from 0.42 million shares the previous day.

Support And Resistance Levels for Cepton Inc. (CPTN)

According to the 24-hour chart, there is a support level at 0.5017, which, if violated, would cause prices to drop to 0.4754. In the upper region, resistance lies at 0.5726. The next price resistance is at 0.6172. RSI (Relative Strength Index) is 39.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0839, which suggests the price will decrease in the coming days. Percent R is at 95.26%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Cepton Inc. subject to short interest?

Stocks of Cepton Inc. saw a sharp steep in short interest on Jul 30, 2023 dropping by -0.18 million shares to 1.15 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 1.33 million shares. A decline of -15.65% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.84 of the overall float, the days-to-cover ratio (short ratio) decline to 2.84.

Which companies own the most shares of Cepton Inc. (CPTN)?

According to Westerly Capital Management LLC filings, the company currently owns 4,000,598 shares, which is about 2.53% of the total CPTN shares outstanding. The investor’s shares have appreciated by 3,325,598 from its previous 13-F filing of 675000.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $1,421,856. Point72 Asset Management LP acquire a 0.56% interest valued at $1.01 million while Millennium Management LLC 361,631 stake. In its current portfolio, Geode Capital Management LLC holds 284,986 shares valued at $0.21 million.


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