Optical Cable Corporation (NASDAQ:OCC – Get Free Report) was the target of a large growth in short interest in May. As of May 29th, there was short interest totaling 525,812 shares, a growth of 79.6% from the May 14th total of 292,792 shares. Based on an average trading volume of 406,732 shares, the short-interest ratio is currently 1.3 days. Approximately 7.7% of the company’s stock are short sold.
Institutional Trading of Optical Cable
A number of large investors have recently bought and sold shares of the business. Gendell Jeffrey L increased its stake in Optical Cable by 47.4% in the fourth quarter. Gendell Jeffrey L now owns 415,340 shares of the communications equipment provider’s stock valued at $1,848,000 after purchasing an additional 133,510 shares during the period. Sei Investments Co. acquired a new stake in shares of Optical Cable during the first quarter worth about $754,000. Two Sigma Investments LP acquired a new stake in shares of Optical Cable during the third quarter worth about $487,000. Jane Street Group LLC purchased a new position in shares of Optical Cable during the fourth quarter worth about $210,000. Finally, Round Rock Advisors LLC purchased a new position in shares of Optical Cable during the fourth quarter worth about $139,000. Institutional investors and hedge funds own 13.61% of the company’s stock.
Analysts Set New Price Targets
OCC has been the subject of a number of research analyst reports. Wall Street Zen raised Optical Cable from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Optical Cable in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, Optical Cable presently has an average rating of “Sell”.
Optical Cable Stock Performance
NASDAQ:OCC traded down $0.49 during mid-day trading on Tuesday, reaching $20.23. 582,320 shares of the stock were exchanged, compared to its average volume of 437,651. The stock has a market capitalization of $178.57 million, a P/E ratio of 168.60 and a beta of 0.62. Optical Cable has a 1 year low of $2.58 and a 1 year high of $27.98. The company has a 50 day simple moving average of $13.00 and a 200-day simple moving average of $8.68. The company has a quick ratio of 0.74, a current ratio of 2.08 and a debt-to-equity ratio of 0.17.
Optical Cable (NASDAQ:OCC – Get Free Report) last issued its quarterly earnings data on Monday, June 8th. The communications equipment provider reported $0.12 earnings per share for the quarter. The company had revenue of $22.21 million during the quarter. Optical Cable had a return on equity of 5.92% and a net margin of 1.29%.During the same quarter in the prior year, the firm posted ($0.09) EPS.
Optical Cable Company Profile
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.
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