Short Interest in Optical Cable Corporation (NASDAQ:OCC) Expands By 392.7%

Optical Cable Corporation (NASDAQ:OCC) saw a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 83,875 shares, an increase of 392.7% from the January 15th total of 17,025 shares. Based on an average trading volume of 118,842 shares, the days-to-cover ratio is presently 0.7 days. Currently, 1.2% of the shares of the stock are sold short. Currently, 1.2% of the shares of the stock are sold short. Based on an average trading volume of 118,842 shares, the days-to-cover ratio is presently 0.7 days.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Optical Cable in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Optical Cable Stock Down 2.8%

Shares of NASDAQ:OCC opened at $6.14 on Wednesday. The business has a fifty day simple moving average of $5.57 and a 200-day simple moving average of $6.73. Optical Cable has a 52 week low of $2.40 and a 52 week high of $11.50. The company has a market cap of $54.46 million, a P/E ratio of -34.11 and a beta of 0.63.

Optical Cable (NASDAQ:OCC) last issued its quarterly earnings results on Thursday, December 18th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter. Optical Cable had a negative return on equity of 7.90% and a negative net margin of 1.99%.The firm had revenue of $19.83 million for the quarter. During the same period in the previous year, the business posted $0.05 earnings per share.

Hedge Funds Weigh In On Optical Cable

Several institutional investors and hedge funds have recently bought and sold shares of OCC. Round Rock Advisors LLC purchased a new position in Optical Cable during the fourth quarter worth approximately $139,000. Shikiar Asset Management Inc. increased its holdings in shares of Optical Cable by 62.9% during the 4th quarter. Shikiar Asset Management Inc. now owns 24,600 shares of the communications equipment provider’s stock worth $109,000 after buying an additional 9,500 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of Optical Cable in the 3rd quarter worth $102,000. Two Sigma Investments LP acquired a new position in Optical Cable in the third quarter valued at $487,000. Finally, Bridgeway Capital Management LLC grew its position in Optical Cable by 162.0% during the third quarter. Bridgeway Capital Management LLC now owns 33,013 shares of the communications equipment provider’s stock valued at $268,000 after acquiring an additional 20,413 shares during the period. Institutional investors and hedge funds own 13.61% of the company’s stock.

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.