Short Interest in Optical Cable Corporation (NASDAQ:OCC) Increases By 102.5%

Key Points

• Short interest in Optical Cable Corporation increased by 102.5% in September, with total short interest reaching 16,200 shares.
• Institutional investor Gendell Jeffrey L raised its holdings in Optical Cable by 51.0% in the second quarter, now owning approximately 0.83% of the company.
• Recent analyst ratings include a "sell" rating from Weiss Ratings, with the average rating for the stock currently at "Sell".

Optical Cable Corporation (NASDAQ:OCC - Get Free Report) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totaling 16,200 shares, an increase of 102.5% from the August 31st total of 8,000 shares. Based on an average daily trading volume, of 295,400 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.3% of the company's shares are short sold. Approximately 0.3% of the company's shares are short sold. Based on an average daily trading volume, of 295,400 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Optical Cable

An institutional investor recently raised its position in Optical Cable stock. Gendell Jeffrey L lifted its holdings in shares of Optical Cable Corporation (NASDAQ:OCC - Free Report) by 51.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,952 shares of the communications equipment provider's stock after acquiring an additional 22,952 shares during the period. Gendell Jeffrey L owned 0.83% of Optical Cable worth $197,000 at the end of the most recent reporting period. 13.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OCC has been the topic of a number of recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Optical Cable in a research note on Saturday, September 27th. Wall Street Zen lowered Optical Cable from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of "Sell".

Optical Cable Price Performance

Shares of NASDAQ OCC traded down $0.68 during midday trading on Friday, hitting $8.61. The company's stock had a trading volume of 115,477 shares, compared to its average volume of 108,047. The business's fifty day simple moving average is $6.75 and its two-hundred day simple moving average is $4.48. Optical Cable has a 1 year low of $2.02 and a 1 year high of $10.07. The firm has a market capitalization of $76.37 million, a price-to-earnings ratio of -61.50 and a beta of 0.52.

Optical Cable (NASDAQ:OCC - Get Free Report) last posted its quarterly earnings data on Thursday, September 11th. The communications equipment provider reported $0.04 EPS for the quarter. The business had revenue of $19.92 million during the quarter. Optical Cable had a negative net margin of 1.55% and a negative return on equity of 5.80%.

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.

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