Optical Cable Corporation (NASDAQ:OCC) Short Interest Update

Optical Cable Corporation (NASDAQ:OCC) was the target of a significant growth in short interest in May. As of May 29th, there was short interest totaling 525,812 shares, a growth of 79.6% from the May 14th total of 292,792 shares. Based on an average daily trading volume, of 406,732 shares, the days-to-cover ratio is presently 1.3 days. Currently, 7.7% of the company’s stock are sold short.

Optical Cable Stock Performance

Shares of OCC stock opened at $20.23 on Wednesday. Optical Cable has a 1-year low of $2.58 and a 1-year high of $27.98. The company has a current ratio of 2.08, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $178.63 million, a price-to-earnings ratio of 168.60 and a beta of 0.62. The stock’s fifty day simple moving average is $13.00 and its 200-day simple moving average is $8.68.

Optical Cable (NASDAQ:OCC) last issued its earnings results on Monday, June 8th. The communications equipment provider reported $0.12 EPS for the quarter. Optical Cable had a return on equity of 5.92% and a net margin of 1.29%.The firm had revenue of $22.21 million for the quarter. During the same quarter last year, the firm earned ($0.09) EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Optical Cable in a report on Tuesday, April 21st. Wall Street Zen upgraded Optical Cable from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OCC. Gendell Jeffrey L grew its stake in Optical Cable by 47.4% in the fourth quarter. Gendell Jeffrey L now owns 415,340 shares of the communications equipment provider’s stock valued at $1,848,000 after purchasing an additional 133,510 shares in the last quarter. Sei Investments Co. purchased a new position in Optical Cable in the first quarter valued at about $754,000. Two Sigma Investments LP purchased a new position in Optical Cable in the third quarter valued at about $487,000. Jane Street Group LLC purchased a new position in Optical Cable in the fourth quarter valued at about $210,000. Finally, Round Rock Advisors LLC purchased a new position in Optical Cable in the fourth quarter valued at about $139,000. Hedge funds and other institutional investors own 13.61% of the company’s stock.

About Optical Cable

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.