Short Interest in Optical Cable Corporation (NASDAQ:OCC) Drops By 72.0%

Optical Cable Corporation (NASDAQ:OCC) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 5,866 shares, a decline of 72.0% from the November 30th total of 20,964 shares. Based on an average trading volume of 50,718 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the company’s shares are short sold. Currently, 0.1% of the company’s shares are short sold. Based on an average trading volume of 50,718 shares, the short-interest ratio is presently 0.1 days.

Institutional Trading of Optical Cable

Institutional investors and hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP acquired a new stake in shares of Optical Cable during the third quarter worth about $487,000. Gendell Jeffrey L increased its stake in Optical Cable by 51.0% during the 2nd 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. Bridgeway Capital Management LLC lifted its holdings in Optical Cable by 162.0% during the 3rd quarter. Bridgeway Capital Management LLC now owns 33,013 shares of the communications equipment provider’s stock worth $268,000 after buying an additional 20,413 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in Optical Cable during the 3rd quarter worth approximately $135,000. Finally, Shikiar Asset Management Inc. purchased a new position in Optical Cable in the 3rd quarter valued at approximately $123,000. 13.61% of the stock is currently owned by hedge funds and other institutional investors.

Optical Cable Stock Performance

Optical Cable stock opened at $4.39 on Thursday. The company has a market capitalization of $38.94 million, a PE ratio of -24.39 and a beta of 0.52. Optical Cable has a fifty-two week low of $2.40 and a fifty-two week high of $11.50. The firm has a 50 day moving average price of $7.69 and a 200 day moving average price of $6.53.

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

Analyst Ratings Changes

Several research firms recently issued reports on OCC. Wall Street Zen cut shares of Optical Cable from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Optical Cable in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Optical Cable presently has a consensus rating of “Sell”.

About Optical Cable

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.