Optical Cable Co. (NASDAQ:OCC – Get Free Report) was the recipient of a significant 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 volume of 653,900 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.7% of the shares of the company are short sold.
Institutional Investors Weigh In On Optical Cable
An institutional investor recently bought a new position in Optical Cable stock. Bank of Montreal Can purchased a new position in shares of Optical Cable Co. (NASDAQ:OCC – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 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 as of its most recent SEC filing. 13.61% of the stock is owned by institutional investors and hedge funds.
Optical Cable Price Performance
Optical Cable stock traded up $0.08 during midday trading on Friday, reaching $3.31. The company’s stock had a trading volume of 49,145 shares, compared to its average volume of 69,164. Optical Cable has a fifty-two week low of $2.02 and a fifty-two week high of $7.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.74 and a current ratio of 4.49. The stock’s 50 day simple moving average is $4.53 and its 200 day simple moving average is $3.27. The firm has a market capitalization of $27.14 million, a PE ratio of -6.13 and a beta of 0.31.
Analyst Ratings Changes
Separately, StockNews.com downgraded Optical Cable from a “buy” rating to a “hold” rating in a report on Sunday, March 9th.
View Our Latest Research Report on Optical Cable
Optical Cable Company Profile
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.
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