Optical Cable Corporation (NASDAQ:OCC) Short Interest Up 392.7% in January

Optical Cable Corporation (NASDAQ:OCC) was the recipient of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 83,875 shares, a growth of 392.7% from the January 15th total of 17,025 shares. Based on an average trading volume of 118,842 shares, the short-interest ratio is currently 0.7 days. Approximately 1.2% of the shares of the stock are sold short. Approximately 1.2% of the shares of the stock are sold short. Based on an average trading volume of 118,842 shares, the short-interest ratio is currently 0.7 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Optical Cable in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Optical Cable currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Optical Cable

Several institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new stake in shares of Optical Cable during the fourth quarter worth $210,000. Dimensional Fund Advisors LP grew its stake in Optical Cable by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 268,932 shares of the communications equipment provider’s stock worth $1,197,000 after buying an additional 4,497 shares during the last quarter. Round Rock Advisors LLC bought a new stake in Optical Cable in the fourth quarter valued at $139,000. Shikiar Asset Management Inc. increased its holdings in shares of Optical Cable by 62.9% in the 4th quarter. Shikiar Asset Management Inc. now owns 24,600 shares of the communications equipment provider’s stock worth $109,000 after acquiring an additional 9,500 shares during the period. Finally, Citadel Advisors LLC bought a new stake in Optical Cable in the 3rd quarter valued at about $102,000. Hedge funds and other institutional investors own 13.61% of the company’s stock.

Optical Cable Price Performance

OCC stock traded down $0.41 during midday trading on Thursday, hitting $5.44. The stock had a trading volume of 115,197 shares, compared to its average volume of 109,471. The company’s 50-day moving average price is $5.47 and its 200 day moving average price is $6.72. The firm has a market cap of $48.25 million, a PE ratio of -30.22 and a beta of 0.63. Optical Cable has a 12-month low of $2.40 and a 12-month high of $11.50.

Optical Cable (NASDAQ:OCC) last announced its quarterly earnings data on Thursday, December 18th. The communications equipment provider reported $0.01 earnings per share for the quarter. The business had revenue of $19.83 million for the quarter. Optical Cable had a negative net margin of 1.99% and a negative return on equity of 7.90%. During the same quarter in the previous year, the company earned $0.05 earnings per share.

Optical Cable Company Profile

Optical Cable Corporation (NASDAQ: OCC) is a publicly traded designer and manufacturer of optical fiber and copper communications cable solutions. Headquartered in Roanoke, Virginia, the company develops a broad range of standard and custom cable assemblies, connectors, hardware and accessories. Its product portfolio addresses data transmission requirements in demanding environments, including long-haul telecommunications, industrial automation, defense systems and submersible applications.

The company’s offerings are organized across multiple product lines, encompassing outside-plant fiber optic cable for aerial and underground installations, indoor/outdoor copper connectivity and specialty engineered cable assemblies.