Optical Cable Co. (NASDAQ:OCC) Sees Large Drop in Short Interest

Optical Cable Co. (NASDAQ:OCC) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totalling 14,900 shares, a decrease of 9.1% from the June 30th total of 16,400 shares. Based on an average trading volume of 10,700 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.3% of the company’s stock are short sold.

Separately, TheStreet downgraded shares of Optical Cable from a “c” rating to a “d+” rating in a report on Wednesday, June 5th.

Shares of OCC traded down $0.18 during mid-day trading on Friday, hitting $3.51. 6,800 shares of the company traded hands, compared to its average volume of 26,399. Optical Cable has a 1-year low of $3.20 and a 1-year high of $6.40. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.23 and a current ratio of 3.21. The business has a 50 day moving average of $3.88 and a 200 day moving average of $4.38.

Optical Cable (NASDAQ:OCC) last posted its quarterly earnings data on Tuesday, June 11th. The communications equipment provider reported ($0.08) earnings per share (EPS) for the quarter. Optical Cable had a negative net margin of 4.85% and a negative return on equity of 15.43%. The company had revenue of $18.96 million for the quarter.

Several institutional investors and hedge funds have recently bought and sold shares of OCC. Vanguard Group Inc. increased its holdings in Optical Cable by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 164,123 shares of the communications equipment provider’s stock worth $676,000 after buying an additional 6,440 shares during the period. Wilbanks Smith & Thomas Asset Management LLC increased its holdings in Optical Cable by 6.6% in the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 111,901 shares of the communications equipment provider’s stock worth $461,000 after buying an additional 6,901 shares during the period. Dimensional Fund Advisors LP increased its holdings in Optical Cable by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 447,679 shares of the communications equipment provider’s stock worth $1,706,000 after buying an additional 8,085 shares during the period. Finally, BlackRock Inc. increased its holdings in Optical Cable by 104.8% in the 2nd quarter. BlackRock Inc. now owns 17,987 shares of the communications equipment provider’s stock worth $75,000 after buying an additional 9,205 shares during the period. Hedge funds and other institutional investors own 15.68% of the company’s stock.

Optical Cable Company Profile

Optical Cable Corporation, together with its subsidiaries, manufactures and sells 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 cables for high bandwidth transmission of data, video, and voice communications; and copper datacom cables, including unshielded and shielded twisted pair.

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