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

Optical Cable Co. (NASDAQ:OCC) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 8,600 shares, a decline of 42.3% from the July 31st total of 14,900 shares. Based on an average trading volume of 11,600 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.2% of the shares of the company are sold short.

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Optical Cable by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 164,123 shares of the communications equipment provider’s stock worth $676,000 after purchasing an additional 6,440 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC lifted its holdings in Optical Cable by 6.6% during 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 purchasing an additional 6,901 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Optical Cable by 104.8% during the 2nd quarter. BlackRock Inc. now owns 17,987 shares of the communications equipment provider’s stock worth $75,000 after purchasing an additional 9,205 shares during the last quarter. Institutional investors own 14.24% of the company’s stock.

Shares of NASDAQ OCC traded down $0.05 during midday trading on Friday, hitting $3.46. 8,100 shares of the company’s stock were exchanged, compared to its average volume of 24,123. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.23 and a current ratio of 3.21. Optical Cable has a 12 month low of $3.20 and a 12 month high of $6.40. The company’s 50 day moving average price is $3.68 and its 200 day moving average price is $4.31.

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

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

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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