Optical Cable Corporation (NASDAQ:OCC) Short Interest Update

Optical Cable Corporation (NASDAQ:OCC) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 46,007 shares, an increase of 684.3% from the December 15th total of 5,866 shares. Based on an average daily trading volume, of 195,279 shares, the short-interest ratio is currently 0.2 days. Approximately 0.7% of the company’s shares are short sold. Approximately 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 195,279 shares, the short-interest ratio is currently 0.2 days.

Institutional Trading of Optical Cable

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in Optical Cable by 8.3% in the 1st quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider’s stock valued at $348,000 after purchasing an additional 9,535 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Optical Cable during the third quarter worth about $102,000. Shikiar Asset Management Inc. purchased a new stake in shares of Optical Cable in the third quarter worth about $123,000. Essex Investment Management Co. LLC acquired a new stake in shares of Optical Cable in the third quarter valued at about $135,000. Finally, Bridgeway Capital Management LLC grew its stake in shares of Optical Cable by 162.0% in the third quarter. Bridgeway Capital Management LLC now owns 33,013 shares of the communications equipment provider’s stock valued at $268,000 after buying an additional 20,413 shares in the last quarter. 13.61% of the stock is owned by hedge funds and other institutional investors.

Optical Cable Price Performance

Shares of Optical Cable stock remained flat at $4.16 during trading hours on Monday. The stock had a trading volume of 112,442 shares, compared to its average volume of 141,274. The firm has a market capitalization of $36.90 million, a price-to-earnings ratio of -23.11 and a beta of 0.58. Optical Cable has a 52 week low of $2.40 and a 52 week high of $11.50. The business’s 50-day simple moving average is $6.71 and its 200 day simple moving average is $6.71.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optical Cable in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently 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.