Short Interest in Optical Cable Corporation (NASDAQ:OCC) Increases By 19.2%

Optical Cable Corporation (NASDAQ:OCC) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totaling 55,563 shares, an increase of 19.2% from the March 15th total of 46,617 shares. Based on an average trading volume of 161,931 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.8% of the company’s stock are sold short.

Optical Cable Stock Performance

Shares of Optical Cable stock traded up $0.10 during trading on Friday, reaching $11.25. The company had a trading volume of 137,675 shares, compared to its average volume of 176,705. The company has a market cap of $99.34 million, a price-to-earnings ratio of -124.99 and a beta of 0.35. The firm’s fifty day moving average is $7.78 and its 200-day moving average is $7.16. Optical Cable has a fifty-two week low of $2.44 and a fifty-two week high of $11.96.

Optical Cable (NASDAQ:OCC) last announced its quarterly earnings data on Tuesday, March 10th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter. The firm had revenue of $16.43 million for the quarter. Optical Cable had a negative net margin of 1.01% and a negative return on equity of 4.14%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Optical Cable in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Optical Cable currently has an average rating of “Sell”.

Institutional Trading of Optical Cable

Institutional investors have recently added to or reduced their stakes in the business. Gendell Jeffrey L lifted its position in shares of Optical Cable by 47.4% in the 4th quarter. Gendell Jeffrey L now owns 415,340 shares of the communications equipment provider’s stock worth $1,848,000 after buying an additional 133,510 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Optical Cable during the 3rd quarter valued at about $487,000. Jane Street Group LLC acquired a new stake in Optical Cable during the fourth quarter worth about $210,000. Round Rock Advisors LLC acquired a new stake in Optical Cable during the fourth quarter worth about $139,000. Finally, Bridgeway Capital Management LLC lifted its holdings in 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 worth $268,000 after acquiring an additional 20,413 shares during the last quarter. Institutional investors own 13.61% of the company’s stock.

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.