Optical Cable Co. (NASDAQ:OCC) Sees Large Growth in Short Interest

Optical Cable Co. (NASDAQ:OCC) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 284,000 shares, an increase of 1,451.9% from the December 15th total of 18,300 shares. Based on an average daily trading volume, of 620,600 shares, the short-interest ratio is currently 0.5 days. Approximately 5.3% of the company’s shares are sold short.

Optical Cable Trading Down 4.0 %

NASDAQ:OCC traded down $0.19 during mid-day trading on Monday, reaching $4.51. 35,282 shares of the company’s stock traded hands, compared to its average volume of 123,497. Optical Cable has a 12-month low of $2.02 and a 12-month high of $7.00. The firm has a market capitalization of $37.07 million, a price-to-earnings ratio of -5.93 and a beta of 0.31. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.18 and a quick ratio of 1.42. The company has a 50 day moving average price of $2.80 and a 200-day moving average price of $2.71.

Optical Cable (NASDAQ:OCC) last announced its quarterly earnings results on Monday, December 23rd. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter. Optical Cable had a negative return on equity of 25.06% and a negative net margin of 9.07%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Optical Cable stock. Legacy Financial Advisors Inc. lifted its stake in Optical Cable Co. (NASDAQ:OCC) by 27.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,625 shares of the communications equipment provider’s stock after purchasing an additional 22,609 shares during the quarter. Legacy Financial Advisors Inc. owned about 1.31% of Optical Cable worth $281,000 as of its most recent filing with the Securities & Exchange Commission. 13.61% of the stock is currently owned by institutional investors and hedge funds.

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.