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

Optical Cable Corporation (NASDAQ:OCC) was the target of a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 46,744 shares, a drop of 44.3% from the January 29th total of 83,875 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily volume of 120,735 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 120,735 shares, the short-interest ratio is currently 0.4 days. Approximately 0.7% of the shares of the company are short sold.

Institutional Investors Weigh In On Optical Cable

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OCC. Gendell Jeffrey L lifted its position 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 worth $1,848,000 after purchasing an additional 133,510 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Optical Cable by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 268,932 shares of the communications equipment provider’s stock worth $1,197,000 after buying an additional 4,497 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Optical Cable by 8.3% in the 1st quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider’s stock worth $348,000 after buying an additional 9,535 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Optical Cable in the third quarter valued at $487,000. Finally, Bridgeway Capital Management LLC boosted its stake in Optical Cable by 46.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 48,268 shares of the communications equipment provider’s stock valued at $215,000 after buying an additional 15,255 shares in the last quarter. Institutional investors own 13.61% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optical Cable in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Optical Cable Stock Performance

Shares of NASDAQ:OCC traded up $0.81 on Monday, hitting $6.38. The company’s stock had a trading volume of 158,221 shares, compared to its average volume of 102,466. The company has a market capitalization of $56.59 million, a price-to-earnings ratio of -35.44 and a beta of 0.63. Optical Cable has a 12 month low of $2.40 and a 12 month high of $11.50. The stock’s 50-day moving average is $4.99 and its two-hundred day moving average is $6.79.

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

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.