Short Interest in Optical Cable Co. (NASDAQ:OCC) Drops By 38.6%

Optical Cable Co. (NASDAQ:OCC) saw a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 10,200 shares, a decrease of 38.6% from the October 31st total of 16,600 shares. Based on an average trading volume of 6,000 shares, the short-interest ratio is currently 1.7 days. Currently, 0.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Optical Cable stock. Legacy Financial Advisors Inc. lifted its stake in Optical Cable Co. (NASDAQ:OCC) by 27.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent reporting period. Institutional investors own 13.61% of the company’s stock.

Optical Cable Price Performance

OCC traded down $0.01 during midday trading on Thursday, hitting $2.33. 13,209 shares of the company traded hands, compared to its average volume of 5,566. The company has a market capitalization of $19.18 million, a price-to-earnings ratio of -3.03 and a beta of 0.47. The business has a 50 day simple moving average of $2.48 and a two-hundred day simple moving average of $2.66. The company has a current ratio of 4.18, a quick ratio of 1.42 and a debt-to-equity ratio of 0.48. Optical Cable has a 52-week low of $2.29 and a 52-week high of $3.53.

Optical Cable (NASDAQ:OCC) last posted its quarterly earnings data on Wednesday, September 11th. The communications equipment provider reported ($0.20) EPS for the quarter. The firm had revenue of $16.22 million for the quarter. Optical Cable had a negative return on equity of 25.06% and a negative net margin of 9.07%.

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.