Optical Cable Co. (NASDAQ:OCC) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 8,600 shares, a decline of 42.3% from the July 31st total of 14,900 shares. Based on an average trading volume of 11,600 shares, the short-interest ratio is presently 0.7 days. Approximately 0.2% of the shares of the stock are sold short.
Separately, TheStreet lowered Optical Cable from a “c” rating to a “d+” rating in a research report on Wednesday, June 5th.
A number of hedge funds have recently modified their holdings of OCC. Vanguard Group Inc. grew its position in shares of Optical Cable by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 164,123 shares of the communications equipment provider’s stock valued at $676,000 after buying an additional 6,440 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC grew its position in shares of Optical Cable by 6.6% in 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 buying an additional 6,901 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Optical Cable by 104.8% in the 2nd quarter. BlackRock Inc. now owns 17,987 shares of the communications equipment provider’s stock valued at $75,000 after buying an additional 9,205 shares during the last quarter. Institutional investors and hedge funds own 14.24% of the company’s stock.
OCC stock traded down $0.05 during midday trading on Friday, reaching $3.46. 8,100 shares of the stock were exchanged, compared to its average volume of 24,123. Optical Cable has a 52 week low of $3.20 and a 52 week high of $6.40. The company has a current ratio of 3.21, a quick ratio of 1.23 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average price of $3.68 and a 200 day moving average price of $4.31.
Optical Cable (NASDAQ:OCC) last issued its quarterly earnings data on Tuesday, June 11th. The communications equipment provider reported ($0.08) earnings per share for the quarter. The firm had revenue of $18.96 million for the quarter. Optical Cable had a negative return on equity of 15.43% and a negative net margin of 4.85%.
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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