Optical Cable Co. (NASDAQ:OCC) Sees Significant Decline in Short Interest

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

Institutional Trading of Optical Cable

A hedge fund recently bought a new stake in Optical Cable stock. Bank of Montreal Can acquired a new position in shares of Optical Cable Co. (NASDAQ:OCC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 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 at the end of the most recent quarter. Hedge funds and other institutional investors own 13.61% of the company’s stock.

Optical Cable Stock Down 0.6 %

Optical Cable stock traded down $0.02 during trading on Monday, reaching $3.29. The stock had a trading volume of 49,099 shares, compared to its average volume of 180,158. Optical Cable has a 52-week low of $2.02 and a 52-week high of $7.00. The business has a 50 day moving average price of $4.53 and a 200 day moving average price of $3.28. The company has a quick ratio of 1.74, a current ratio of 4.49 and a debt-to-equity ratio of 0.52. The stock has a market cap of $26.97 million, a PE ratio of -6.09 and a beta of 0.31.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Optical Cable from a “hold” rating to a “buy” rating in a research note on Monday.

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.