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

Optical Cable Co. (NASDAQ:OCC) was the recipient of a large increase in short interest in 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 volume of 620,600 shares, the days-to-cover ratio is presently 0.5 days. Currently, 5.3% of the company’s stock are short sold.

Hedge Funds Weigh In On Optical Cable

A hedge fund recently raised its stake in Optical Cable stock. Legacy Financial Advisors Inc. grew its position in shares of Optical Cable Co. (NASDAQ:OCC) by 27.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,625 shares of the communications equipment provider’s stock after buying an additional 22,609 shares during the quarter. Legacy Financial Advisors Inc. owned 1.31% of Optical Cable worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 13.61% of the company’s stock.

Optical Cable Stock Down 4.0 %

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

Optical Cable (NASDAQ:OCC) last released its quarterly earnings data 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%.

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.