Optical Cable Corporation (NASDAQ:OCC) Short Interest Update
by Scott Moore · The Cerbat GemOptical Cable Corporation (NASDAQ:OCC – Get Free Report) was the recipient of a significant decline in short interest in January. As of January 15th, there was short interest totaling 17,025 shares, a decline of 63.0% from the December 31st total of 46,007 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 82,182 shares, the short-interest ratio is presently 0.2 days. Based on an average daily trading volume, of 82,182 shares, the short-interest ratio is presently 0.2 days. Approximately 0.3% of the shares of the stock are short sold.
Hedge Funds Weigh In On Optical Cable
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Round Rock Advisors LLC bought a new position in Optical Cable in the fourth quarter valued at approximately $139,000. Shikiar Asset Management Inc. lifted its position in Optical Cable by 62.9% in the 4th quarter. Shikiar Asset Management Inc. now owns 24,600 shares of the communications equipment provider’s stock valued at $109,000 after acquiring an additional 9,500 shares in the last quarter. Citadel Advisors LLC acquired a new position in Optical Cable in the 3rd quarter worth $102,000. Two Sigma Investments LP bought a new position in Optical Cable during the 3rd quarter worth about $487,000. Finally, Bridgeway Capital Management LLC raised its stake in shares of Optical Cable by 162.0% in the 3rd 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 owned by institutional investors.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Optical Cable in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.
Get Our Latest Stock Analysis on Optical Cable
Optical Cable Stock Performance
OCC traded up $0.03 during mid-day trading on Friday, reaching $4.93. The stock had a trading volume of 106,115 shares, compared to its average volume of 97,051. The firm’s fifty day simple moving average is $5.95 and its two-hundred day simple moving average is $6.71. The stock has a market capitalization of $43.73 million, a P/E ratio of -27.39 and a beta of 0.58. Optical Cable has a 52 week low of $2.40 and a 52 week high of $11.50.
Optical Cable (NASDAQ:OCC – Get Free Report) last posted its quarterly earnings results on Thursday, December 18th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $19.83 million for 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 in the prior year, the business 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.