Optical Cable Corporation (NASDAQ:OCC) Sees Significant Decrease in Short Interest

Optical Cable Corporation (NASDAQ:OCC) was the target of a significant drop in short interest in December. As of December 15th, there was short interest totaling 5,866 shares, a drop of 72.0% from the November 30th total of 20,964 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average trading volume of 50,718 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 50,718 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the company’s stock are sold short.

Optical Cable Stock Performance

OCC opened at $4.39 on Thursday. Optical Cable has a one year low of $2.40 and a one year high of $11.50. The company has a market cap of $38.94 million, a P/E ratio of -24.39 and a beta of 0.52. The business’s 50-day simple moving average is $7.69 and its 200-day simple moving average is $6.53.

Optical Cable (NASDAQ:OCC) last announced its quarterly earnings results on Thursday, December 18th. The communications equipment provider reported $0.01 EPS for the quarter. The company had revenue of $19.83 million for the quarter. Optical Cable had a negative net margin of 1.99% and a negative return on equity of 7.90%. During the same quarter in the prior year, the company earned $0.05 earnings per share.

Hedge Funds Weigh In On Optical Cable

Several large investors have recently bought and sold shares of the stock. Two Sigma Investments LP acquired a new stake in shares of Optical Cable in the 3rd quarter valued at about $487,000. Gendell Jeffrey L increased its position in Optical Cable by 51.0% during the second quarter. Gendell Jeffrey L now owns 67,952 shares of the communications equipment provider’s stock worth $197,000 after buying an additional 22,952 shares during the period. Bridgeway Capital Management LLC lifted its stake 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 valued at $268,000 after buying an additional 20,413 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in Optical Cable in the third quarter valued at approximately $135,000. Finally, Shikiar Asset Management Inc. acquired a new stake in shares of Optical Cable in the third quarter valued at approximately $123,000. Institutional investors and hedge funds own 13.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on OCC. Wall Street Zen cut Optical Cable from a “buy” rating to a “hold” rating in a research note on Saturday, September 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Optical Cable in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

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.