Optical Cable Co. (NASDAQ:OCC) Sees Significant Decline in Short Interest

Optical Cable Co. (NASDAQ:OCC) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 36,200 shares, a drop of 38.9% from the February 13th total of 59,200 shares. Based on an average daily trading volume, of 653,900 shares, the short-interest ratio is presently 0.1 days. Approximately 0.7% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Optical Cable from a “hold” rating to a “buy” rating in a research note on Monday.

Institutional Investors Weigh In On Optical Cable

A hedge fund recently bought a new stake in Optical Cable stock. Bank of Montreal Can acquired a new position in shares of Optical Cable Co. (NASDAQ:OCC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,000 shares of the communications equipment provider’s stock, valued at approximately $36,000. Bank of Montreal Can owned about 0.12% of Optical Cable at the end of the most recent quarter. Hedge funds and other institutional investors own 13.61% of the company’s stock.

Optical Cable Price Performance

Shares of NASDAQ OCC traded down $0.02 during mid-day trading on Monday, reaching $3.29. The company’s stock had a trading volume of 49,099 shares, compared to its average volume of 180,158. The stock has a 50-day moving average of $4.53 and a two-hundred day moving average of $3.28. The stock has a market capitalization of $26.97 million, a P/E ratio of -6.09 and a beta of 0.31. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.74 and a current ratio of 4.49. Optical Cable has a 1-year low of $2.02 and a 1-year high of $7.00.

Optical Cable (NASDAQ:OCC) last issued its earnings results on Monday, March 10th. The communications equipment provider reported ($0.14) EPS for the quarter. The business had revenue of $15.74 million during the quarter. Optical Cable had a negative net margin of 6.31% and a negative return on equity of 19.50%.

About Optical Cable

Optical Cable Corporation, together with its subsidiaries, engages in the manufacture and sale of 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.