Optical Cable Co. (NASDAQ:OCC) Short Interest Down 38.9% in February

Optical Cable Co. (NASDAQ:OCC) was the recipient of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 36,200 shares, a decrease of 38.9% from the February 13th total of 59,200 shares. Based on an average daily volume of 653,900 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.7% of the company’s shares are sold short.

Institutional Trading of Optical Cable

A hedge fund recently bought a new stake in Optical Cable stock. Bank of Montreal Can purchased a new stake in Optical Cable Co. (NASDAQ:OCC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 as of its most recent SEC filing. Institutional investors and hedge funds own 13.61% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Optical Cable from a “buy” rating to a “hold” rating in a report on Sunday, March 9th.

Optical Cable Trading Up 2.5 %

Shares of OCC traded up $0.08 during mid-day trading on Friday, reaching $3.31. The stock had a trading volume of 49,145 shares, compared to its average volume of 69,164. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.49 and a quick ratio of 1.74. Optical Cable has a 52-week low of $2.02 and a 52-week high of $7.00. The business’s fifty day moving average is $4.53 and its 200 day moving average is $3.27. The firm has a market cap of $27.14 million, a price-to-earnings ratio of -6.13 and a beta of 0.31.

Optical Cable (NASDAQ:OCC) last posted its earnings results on Monday, March 10th. The communications equipment provider reported ($0.14) EPS for the quarter. The company had revenue of $15.74 million during the quarter. Optical Cable had a negative net margin of 6.31% and a negative return on equity of 19.50%.

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.