Optical Cable Corporation (NASDAQ:OCC) Sees Significant Drop in Short Interest

by · The Markets Daily

Optical Cable Corporation (NASDAQ:OCC – Get Free Report) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 17,025 shares, a decline of 63.0% from the December 31st total of 46,007 shares. Based on an average trading volume of 82,182 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.3% of the company’s shares are short sold. Currently, 0.3% of the company’s shares are short sold. Based on an average trading volume of 82,182 shares, the days-to-cover ratio is presently 0.2 days.

Optical Cable Price Performance

Shares of Optical Cable stock opened at $5.21 on Wednesday. Optical Cable has a one year low of $2.40 and a one year high of $11.50. The firm has a market capitalization of $46.21 million, a price-to-earnings ratio of -28.94 and a beta of 0.58. The business has a 50-day simple moving average of $6.05 and a 200 day simple moving average of $6.75.

Optical Cable (NASDAQ:OCC – Get Free Report) last issued its quarterly earnings results on Thursday, December 18th. The communications equipment provider reported $0.01 EPS for the quarter. The firm had revenue of $19.83 million for the quarter. Optical Cable had a negative return on equity of 7.90% and a negative net margin of 1.99%.During the same period in the prior year, the company earned $0.05 EPS.

Institutional Investors Weigh In On Optical Cable

Large investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC purchased a new stake in Optical Cable during the 3rd quarter valued at $102,000. Shikiar Asset Management Inc. increased its stake in shares of Optical Cable by 62.9% in the 4th quarter. Shikiar Asset Management Inc. now owns 24,600 shares of the communications equipment provider’s stock worth $109,000 after purchasing an additional 9,500 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in Optical Cable in the 3rd quarter worth $135,000. Round Rock Advisors LLC bought a new stake in Optical Cable during the fourth quarter valued at about $139,000. Finally, Gendell Jeffrey L raised its stake in shares of Optical Cable by 51.0% in the second quarter. Gendell Jeffrey L now owns 67,952 shares of the communications equipment provider’s stock worth $197,000 after buying an additional 22,952 shares during the period. Institutional investors own 13.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optical Cable in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Read Our Latest Research Report on Optical Cable

About Optical Cable

(Get Free Report)

Optical Cable Corporation (NASDAQ: OCC) is a publicly traded designer and manufacturer of optical fiber and copper communications cable solutions. Headquartered in Roanoke, Virginia, the company develops a broad range of standard and custom cable assemblies, connectors, hardware and accessories. Its product portfolio addresses data transmission requirements in demanding environments, including long-haul telecommunications, industrial automation, defense systems and submersible applications.

The company’s offerings are organized across multiple product lines, encompassing outside-plant fiber optic cable for aerial and underground installations, indoor/outdoor copper connectivity and specialty engineered cable assemblies.

Featured Articles