Short Interest in Optical Cable Co. (NASDAQ:OCC) Drops By 42.3%

Optical Cable Co. (NASDAQ:OCC) was the target of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 8,600 shares, a decrease 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 currently 0.7 days. Currently, 0.2% of the company’s stock are short sold.

Separately, TheStreet lowered Optical Cable from a “c” rating to a “d+” rating in a report on Wednesday, June 5th.

A number of large investors have recently made changes to their positions in OCC. Wilbanks Smith & Thomas Asset Management LLC boosted its stake in 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 purchasing an additional 6,901 shares during the period. BlackRock Inc. boosted its stake in Optical Cable by 104.8% during the 2nd quarter. BlackRock Inc. now owns 17,987 shares of the communications equipment provider’s stock valued at $75,000 after purchasing an additional 9,205 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Optical Cable by 4.1% during the 2nd 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 during the period. Hedge funds and other institutional investors own 14.24% of the company’s stock.

Shares of NASDAQ OCC traded down $0.05 during mid-day trading on Friday, reaching $3.46. 8,100 shares of the company traded hands, compared to its average volume of 24,123. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.23 and a current ratio of 3.21. The company’s fifty day moving average is $3.68 and its two-hundred day moving average is $4.31. Optical Cable has a fifty-two week low of $3.20 and a fifty-two week high of $6.40.

Optical Cable (NASDAQ:OCC) last issued its quarterly earnings data on Tuesday, June 11th. The communications equipment provider reported ($0.08) EPS for the quarter. The company had revenue of $18.96 million for the quarter. Optical Cable had a negative net margin of 4.85% and a negative return on equity of 15.43%.

Optical Cable Company Profile

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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