Short Interest in Optical Cable Corporation (NASDAQ:OCC) Rises By 392.7%

Optical Cable Corporation (NASDAQ:OCC) was the target of a large increase in short interest in January. As of January 30th, there was short interest totaling 83,875 shares, an increase of 392.7% from the January 15th total of 17,025 shares. Based on an average trading volume of 118,842 shares, the days-to-cover ratio is presently 0.7 days. Currently, 1.2% of the company’s stock are short sold. Currently, 1.2% of the company’s stock are short sold. Based on an average trading volume of 118,842 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Investors Weigh In On Optical Cable

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in Optical Cable by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 268,932 shares of the communications equipment provider’s stock valued at $1,197,000 after purchasing an additional 4,497 shares during the last quarter. Shikiar Asset Management Inc. raised its position in shares of Optical Cable by 62.9% in the fourth quarter. Shikiar Asset Management Inc. now owns 24,600 shares of the communications equipment provider’s stock valued at $109,000 after purchasing an additional 9,500 shares during the period. Royal Bank of Canada lifted its stake in shares of Optical Cable by 8.3% during the 1st quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider’s stock valued at $348,000 after buying an additional 9,535 shares in the last quarter. Citadel Advisors LLC bought a new stake in Optical Cable during the 3rd quarter valued at $102,000. Finally, Essex Investment Management Co. LLC bought a new stake in Optical Cable during the 3rd quarter valued at $135,000. Hedge funds and other institutional investors own 13.61% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Optical Cable in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Optical Cable Trading Down 7.0%

Shares of Optical Cable stock opened at $5.44 on Friday. The business’s fifty day simple moving average is $5.47 and its 200 day simple moving average is $6.72. Optical Cable has a 12 month low of $2.40 and a 12 month high of $11.50. The firm has a market capitalization of $48.25 million, a P/E ratio of -30.22 and a beta of 0.63.

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

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.