Short Interest in Optical Cable Co. (NASDAQ:OCC) Drops By 38.9%

Optical Cable Co. (NASDAQ:OCC) was the target of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 36,200 shares, a decrease of 38.9% from the February 13th total of 59,200 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 653,900 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Optical Cable stock. Bank of Montreal Can purchased a new position in Optical Cable Co. (NASDAQ:OCC) during the fourth quarter, according to its most recent Form 13F filing 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 filing with the Securities and Exchange Commission. 13.61% of the stock is owned by institutional investors.

Optical Cable Stock Up 2.5 %

Shares of OCC traded up $0.08 during trading hours on Friday, reaching $3.31. 49,145 shares of the stock traded hands, compared to its average volume of 69,164. Optical Cable has a 52 week low of $2.02 and a 52 week high of $7.00. The company has a current ratio of 4.49, a quick ratio of 1.74 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $4.53 and a 200 day simple moving average of $3.27. The company has a market cap of $27.14 million, a price-to-earnings ratio of -6.13 and a beta of 0.31.

Optical Cable (NASDAQ:OCC) last announced its earnings results on Monday, March 10th. The communications equipment provider reported ($0.14) earnings per share for the quarter. The business had revenue of $15.74 million during the quarter. Optical Cable had a negative return on equity of 19.50% and a negative net margin of 6.31%.

Analyst Ratings Changes

Separately, StockNews.com cut Optical Cable from a “buy” rating to a “hold” rating in a research note on Sunday, March 9th.

About Optical Cable

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.