Optical Cable Co. (NASDAQ:OCC) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totalling 18,800 shares, a drop of 19.0% from the May 30th total of 23,200 shares. Based on an average daily trading volume, of 11,300 shares, the short-interest ratio is presently 1.7 days. Approximately 0.4% of the shares of the stock are sold short.
Shares of NASDAQ:OCC remained flat at $$3.90 during mid-day trading on Friday. 5,034 shares of the company traded hands, compared to its average volume of 9,757. The company has a current ratio of 3.21, a quick ratio of 1.23 and a debt-to-equity ratio of 0.49. Optical Cable has a fifty-two week low of $3.20 and a fifty-two week high of $6.40. The firm’s 50-day moving average price is $4.00.
A hedge fund recently raised its stake in Optical Cable stock. Dimensional Fund Advisors LP lifted its position in Optical Cable Co. (NASDAQ:OCC) by 1.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 447,679 shares of the communications equipment provider’s stock after acquiring an additional 8,085 shares during the quarter. Dimensional Fund Advisors LP owned approximately 5.82% of Optical Cable worth $1,706,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 15.67% of the company’s stock.
About Optical Cable
Optical Cable Corporation, together with its subsidiaries, manufactures and sells 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 cables for high bandwidth transmission of data, video, and voice communications; and copper datacom cables, including unshielded and shielded twisted pair.
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