Optical Cable Co. (NASDAQ:OCC – Get Free Report) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 3,500 shares, an increase of 133.3% from the January 15th total of 1,500 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 6,500 shares, the days-to-cover ratio is currently 0.5 days.
Institutional Trading of Optical Cable
Several hedge funds have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV bought a new stake in shares of Optical Cable in the 2nd quarter worth approximately $73,000. BlackRock Inc. raised its holdings in shares of Optical Cable by 115.9% during the second quarter. BlackRock Inc. now owns 31,370 shares of the communications equipment provider’s stock valued at $127,000 after acquiring an additional 16,840 shares in the last quarter. Royal Bank of Canada lifted its stake in Optical Cable by 15.4% in the first quarter. Royal Bank of Canada now owns 114,933 shares of the communications equipment provider’s stock worth $487,000 after acquiring an additional 15,300 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Optical Cable by 0.9% in the third quarter. Dimensional Fund Advisors LP now owns 346,258 shares of the communications equipment provider’s stock valued at $1,195,000 after acquiring an additional 3,047 shares in the last quarter. 12.78% of the stock is owned by institutional investors.
Optical Cable Price Performance
Shares of OCC traded down $0.12 during mid-day trading on Monday, reaching $2.62. 14,357 shares of the stock traded hands, compared to its average volume of 5,295. The company has a market cap of $20.67 million, a price-to-earnings ratio of 10.48 and a beta of 0.54. Optical Cable has a 1 year low of $2.26 and a 1 year high of $4.74. The firm has a fifty day moving average price of $2.72 and a 200 day moving average price of $2.97. The company has a current ratio of 4.51, a quick ratio of 1.45 and a debt-to-equity ratio of 0.44.
About Optical Cable
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.
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