Optical Cable Co. (NASDAQ:OCC) Short Interest Down 18.8% in June

Optical Cable Co. (NASDAQ:OCCGet Rating) was the recipient of a large decline in short interest in June. As of June 15th, there was short interest totalling 3,900 shares, a decline of 18.8% from the May 31st total of 4,800 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 7,400 shares, the short-interest ratio is currently 0.5 days.

Shares of NASDAQ:OCC opened at $3.42 on Wednesday. The firm’s 50 day simple moving average is $3.69 and its two-hundred day simple moving average is $4.28. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.80 and a quick ratio of 1.59. The company has a market capitalization of $26.98 million, a P/E ratio of 6.11 and a beta of 0.62. Optical Cable has a 1-year low of $3.26 and a 1-year high of $6.84.

Hedge funds have recently modified their holdings of the business. Harrison & Co Wealth Management LLC bought a new stake in shares of Optical Cable during the fourth quarter valued at approximately $97,000. Royal Bank of Canada grew its holdings in Optical Cable by 15.4% during the 1st quarter. Royal Bank of Canada now owns 114,933 shares of the communications equipment provider’s stock valued at $487,000 after buying an additional 15,300 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Optical Cable by 11.7% in the 3rd quarter. Renaissance Technologies LLC now owns 147,903 shares of the communications equipment provider’s stock worth $553,000 after acquiring an additional 15,500 shares during the last quarter. Institutional investors and hedge funds own 13.33% of the company’s stock.

About Optical Cable (Get Rating)

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 and hybrid cables for high bandwidth transmission of data, video, and voice communications; and copper datacom cables, including unshielded and shielded twisted pair constructions.

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