Optical Cable Corporation (NASDAQ:OCC) Short Interest Update

Optical Cable Corporation (NASDAQ:OCC) was the recipient of a significant 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 days-to-cover ratio is currently 0.2 days. Currently, 0.7% of the shares of the company are short sold. Currently, 0.7% of the shares of the company are short sold. Based on an average daily trading volume, of 195,279 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On Optical Cable

Several institutional investors and hedge funds have recently modified their holdings of OCC. Royal Bank of Canada boosted its position in Optical Cable by 8.3% during the first quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider’s stock worth $348,000 after acquiring an additional 9,535 shares during the last quarter. Gendell Jeffrey L lifted its stake in shares of Optical Cable by 51.0% during the 2nd quarter. Gendell Jeffrey L now owns 67,952 shares of the communications equipment provider’s stock worth $197,000 after purchasing an additional 22,952 shares during the period. Shikiar Asset Management Inc. acquired a new stake in shares of Optical Cable during the third quarter worth $123,000. Essex Investment Management Co. LLC acquired a new stake in shares of Optical Cable during the third quarter worth $135,000. Finally, Bridgeway Capital Management LLC grew its position 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 purchasing an additional 20,413 shares during the period. Hedge funds and other institutional investors own 13.61% of the company’s stock.

Analyst Upgrades and Downgrades

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

Optical Cable Price Performance

OCC remained flat at $4.16 during trading on Monday. The company’s 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 P/E ratio of -23.11 and a beta of 0.58. Optical Cable has a one year low of $2.40 and a one year high of $11.50. The stock’s 50-day moving average price is $6.71 and its 200 day moving average price is $6.71.

Optical Cable (NASDAQ:OCC) last announced its quarterly 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 company had revenue of $19.83 million for the quarter. During the same period last year, the company earned $0.05 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.