Short Interest in Optical Cable Co. (NASDAQ:OCC) Declines By 43.5%

Optical Cable Co. (NASDAQ:OCC) saw a significant decline in short interest in February. As of February 15th, there was short interest totalling 59,200 shares, a decline of 43.5% from the January 31st total of 104,700 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily volume of 650,900 shares, the short-interest ratio is presently 0.1 days.

Optical Cable Trading Up 1.1 %

Optical Cable stock opened at $3.76 on Tuesday. Optical Cable has a one year low of $2.02 and a one year high of $7.00. The company has a market cap of $30.91 million, a price-to-earnings ratio of -6.96 and a beta of 0.34. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.49 and a quick ratio of 1.74. The firm has a 50-day moving average of $4.57 and a 200-day moving average of $3.23.

Optical Cable (NASDAQ:OCC) last posted its quarterly earnings results on Monday, December 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter. Optical Cable had a negative return on equity of 19.50% and a negative net margin of 6.31%.

Institutional Trading of Optical Cable

A hedge fund recently bought a new stake in Optical Cable stock. Bank of Montreal Can acquired a new position in shares of Optical Cable Co. (NASDAQ:OCC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,000 shares of the communications equipment provider’s stock, valued at approximately $36,000. Bank of Montreal Can owned about 0.12% of Optical Cable at the end of the most recent reporting period. Hedge funds and other institutional investors own 13.61% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Optical Cable from a “hold” rating to a “buy” rating in a research report on Saturday.

Optical Cable Company Profile

Optical Cable Corporation, together with its subsidiaries, engages in the manufacture and sale of 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 and hybrid cables for high bandwidth transmission of data, video, and voice communications; and copper datacom cables, including unshielded and shielded twisted pair constructions.