Otelco Inc (NASDAQ:OTEL) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 2,800 shares, a drop of 60.0% from the May 30th total of 7,000 shares. Based on an average trading volume of 9,200 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the company’s shares are sold short.
Shares of OTEL traded down $0.31 during mid-day trading on Friday, hitting $14.40. The company had a trading volume of 3,577 shares, compared to its average volume of 2,959. The business has a 50-day moving average of $15.60. The company has a current ratio of 1.31, a quick ratio of 1.02 and a debt-to-equity ratio of 5.26. Otelco has a 1-year low of $14.37 and a 1-year high of $18.31. The company has a market cap of $49.10 million, a PE ratio of 5.20 and a beta of 0.72.
Otelco (NASDAQ:OTEL) last released its earnings results on Wednesday, May 8th. The company reported $0.66 earnings per share (EPS) for the quarter. Otelco had a net margin of 14.98% and a return on equity of 100.76%. The business had revenue of $15.76 million for the quarter.
In related news, major shareholder Ira Sochet bought 67,211 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average cost of $15.95 per share, with a total value of $1,072,015.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 155,830 shares of company stock worth $2,536,566 over the last three months. Corporate insiders own 4.60% of the company’s stock.
A hedge fund recently bought a new stake in Otelco stock. Raymond James Financial Services Advisors Inc. purchased a new stake in Otelco Inc (NASDAQ:OTEL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 17,530 shares of the company’s stock, valued at approximately $283,000. Raymond James Financial Services Advisors Inc. owned 0.52% of Otelco as of its most recent filing with the Securities & Exchange Commission. 11.07% of the stock is owned by hedge funds and other institutional investors.
Otelco Inc provides a range of telecommunications services on a retail and wholesale basis. The company offers local services, including voice lines that provide local dial tone and calling features, such as caller identification, call waiting, call forwarding, and voicemail; long distance services; billing and collection services for other carriers under contract; and directory advertising services.
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