Short Interest in Optical Cable Corporation (NASDAQ:OCC) Declines By 63.0%

Optical Cable Corporation (NASDAQ:OCC) was the target of a large drop in short interest during the month of January. As of January 15th, there was short interest totaling 17,025 shares, a drop of 63.0% from the December 31st total of 46,007 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 82,182 shares, the short-interest ratio is presently 0.2 days. Based on an average daily volume of 82,182 shares, the short-interest ratio is presently 0.2 days. Currently, 0.3% of the company’s stock are short sold.

Optical Cable Stock Performance

Shares of NASDAQ OCC traded down $0.10 during midday trading on Thursday, hitting $4.90. 97,490 shares of the stock traded hands, compared to its average volume of 92,174. Optical Cable has a one year low of $2.40 and a one year high of $11.50. The firm has a market capitalization of $43.46 million, a P/E ratio of -27.22 and a beta of 0.58. The firm has a 50-day moving average of $5.99 and a two-hundred day moving average of $6.72.

Optical Cable (NASDAQ:OCC) last posted its quarterly earnings data on Thursday, December 18th. The communications equipment provider reported $0.01 EPS for the quarter. The company 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 quarter last year, the company posted $0.05 EPS.

Institutional Trading of Optical Cable

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in Optical Cable by 8.3% in the first quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider’s stock worth $348,000 after acquiring an additional 9,535 shares during the period. Gendell Jeffrey L raised its holdings in Optical Cable by 51.0% in the 2nd quarter. Gendell Jeffrey L now owns 67,952 shares of the communications equipment provider’s stock worth $197,000 after purchasing an additional 22,952 shares during the period. Shikiar Asset Management Inc. purchased a new position in Optical Cable during the third quarter valued at $123,000. Essex Investment Management Co. LLC bought a new stake in Optical Cable during the third quarter valued at about $135,000. Finally, Bridgeway Capital Management LLC grew its holdings in Optical Cable by 162.0% during the third quarter. Bridgeway Capital Management LLC now owns 33,013 shares of the communications equipment provider’s stock valued at $268,000 after purchasing an additional 20,413 shares during the period. 13.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed 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, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

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.