Short Interest in Optical Cable Co. (NASDAQ:OCC) Declines By 40.6%

Optical Cable Co. (NASDAQ:OCCGet Rating) was the target of a large decline in short interest in the month of April. As of April 30th, there was short interest totalling 7,600 shares, a decline of 40.6% from the April 15th total of 12,800 shares. Based on an average trading volume of 11,800 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.2% of the shares of the company are sold short.

An institutional investor recently bought a new position in Optical Cable stock. Harrison & Co Wealth Management LLC bought a new position in Optical Cable Co. (NASDAQ:OCCGet Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 18,000 shares of the communications equipment provider’s stock, valued at approximately $97,000. Harrison & Co Wealth Management LLC owned about 0.23% of Optical Cable at the end of the most recent quarter. 13.33% of the stock is owned by hedge funds and other institutional investors.

OCC stock traded down $0.20 during midday trading on Friday, reaching $3.65. 16,066 shares of the company’s stock traded hands, compared to its average volume of 6,146. The company has a 50-day moving average price of $4.18 and a two-hundred day moving average price of $4.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.64 and a current ratio of 4.26. Optical Cable has a 52 week low of $3.15 and a 52 week high of $6.84. The firm has a market capitalization of $28.65 million, a PE ratio of 3.51 and a beta of 0.66.

Optical Cable (NASDAQ:OCCGet Rating) last released its quarterly earnings results on Thursday, March 17th. The communications equipment provider reported ($0.12) earnings per share for the quarter. Optical Cable had a return on equity of 38.01% and a net margin of 12.66%. The firm had revenue of $14.44 million during the quarter.

About Optical Cable (Get Rating)

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 and hybrid cables for high bandwidth transmission of data, video, and voice communications; and copper datacom cables, including unshielded and shielded twisted pair constructions.

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