Optical Cable Co. (NASDAQ:OCC) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 8,600 shares, a decline of 42.3% from the July 31st total of 14,900 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 11,600 shares, the short-interest ratio is currently 0.7 days.
Separately, TheStreet lowered Optical Cable from a “c” rating to a “d+” rating in a research report on Wednesday, June 5th.
Shares of Optical Cable stock traded down $0.05 on Friday, hitting $3.46. 8,100 shares of the company’s stock traded hands, compared to its average volume of 24,123. Optical Cable has a one year low of $3.20 and a one year high of $6.40. The company has a quick ratio of 1.23, a current ratio of 3.21 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $3.68 and a two-hundred day moving average of $4.31.
Optical Cable (NASDAQ:OCC) last announced its earnings results on Tuesday, June 11th. The communications equipment provider reported ($0.08) EPS for the quarter. Optical Cable had a negative net margin of 4.85% and a negative return on equity of 15.43%. The business had revenue of $18.96 million for the quarter.
Institutional investors have recently made changes to their positions in the stock. Wilbanks Smith & Thomas Asset Management LLC boosted its position in shares of Optical Cable by 6.6% during the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 111,901 shares of the communications equipment provider’s stock valued at $461,000 after purchasing an additional 6,901 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Optical Cable by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 164,123 shares of the communications equipment provider’s stock valued at $676,000 after purchasing an additional 6,440 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Optical Cable by 104.8% during the 2nd quarter. BlackRock Inc. now owns 17,987 shares of the communications equipment provider’s stock valued at $75,000 after purchasing an additional 9,205 shares in the last quarter. Institutional investors own 14.24% of the company’s stock.
About Optical Cable
Optical Cable Corporation, together with its subsidiaries, manufactures and sells fiber optic and copper data communications cabling and connectivity solutions primarily for the enterprise market in the United States and internationally. The company provides fiber optic cables for high bandwidth transmission of data, video, and voice communications; and copper datacom cables, including unshielded and shielded twisted pair.
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