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

Optical Cable Co. (NASDAQ:OCC) saw a large drop in short interest in the month of November. As of November 29th, there was short interest totalling 7,600 shares, a drop of 61.4% from the November 14th total of 19,700 shares. Based on an average trading volume of 4,600 shares, the short-interest ratio is presently 1.7 days. Currently, 0.2% of the shares of the company are short sold.

Shares of NASDAQ:OCC traded down $0.02 during midday trading on Wednesday, reaching $3.18. 4,900 shares of the company were exchanged, compared to its average volume of 19,364. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.15 and a quick ratio of 0.82. The business’s fifty day moving average is $3.18 and its two-hundred day moving average is $3.58. Optical Cable has a one year low of $2.80 and a one year high of $6.16.

Optical Cable (NASDAQ:OCC) last announced its quarterly earnings results on Monday, September 16th. The communications equipment provider reported ($0.15) earnings per share (EPS) for the quarter. The company had revenue of $17.37 million during the quarter. Optical Cable had a negative net margin of 7.31% and a negative return on equity of 22.56%.

In other news, insider Lidgren Lars 500,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. 24.00% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Optical Cable by 104.8% in the 2nd quarter. BlackRock Inc. now owns 17,987 shares of the communications equipment provider’s stock worth $75,000 after acquiring an additional 9,205 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC boosted its position in shares of 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 valued at $461,000 after acquiring an additional 6,901 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Optical Cable by 4.1% in the second quarter. Vanguard Group Inc. now owns 164,123 shares of the communications equipment provider’s stock valued at $676,000 after purchasing an additional 6,440 shares in the last quarter. Institutional investors and hedge funds own 14.04% of the company’s stock.

About Optical Cable

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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