Optical Cable Corporation (NASDAQ:OCC) Short Interest Up 684.3% in December

Optical Cable Corporation (NASDAQ:OCC) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totaling 46,007 shares, a growth of 684.3% from the December 15th total of 5,866 shares. Based on an average daily volume of 195,279 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.7% of the shares of the company are short sold. Currently, 0.7% of the shares of the company are short sold. Based on an average daily volume of 195,279 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of Optical Cable

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in shares of Optical Cable by 8.3% in the first quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider’s stock valued at $348,000 after buying an additional 9,535 shares in the last quarter. Gendell Jeffrey L grew its holdings in shares of Optical Cable by 51.0% in the 2nd quarter. Gendell Jeffrey L now owns 67,952 shares of the communications equipment provider’s stock worth $197,000 after acquiring an additional 22,952 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Optical Cable during the third quarter worth $487,000. Bridgeway Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 20,413 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Optical Cable in the 3rd quarter valued at $135,000. 13.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Optical Cable in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Optical Cable Stock Performance

Shares of OCC stock traded down $0.03 during midday trading on Wednesday, reaching $4.42. 7,758 shares of the company were exchanged, compared to its average volume of 84,953. The company’s 50 day moving average price is $6.64 and its two-hundred day moving average price is $6.72. The company has a market cap of $39.16 million, a P/E ratio of -24.44 and a beta of 0.58. Optical Cable has a 12 month low of $2.40 and a 12 month high of $11.50.

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

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.