Otelco Inc (NASDAQ:OTEL) Short Interest Down 11.1% in August
Otelco Inc (NASDAQ:OTEL) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 800 shares, a drop of 11.1% from the July 31st total of 900 shares. Based on an average daily trading volume, of 7,100 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are short sold.
OTEL stock traded down $0.02 during trading on Friday, hitting $11.75. The company had a trading volume of 318 shares, compared to its average volume of 7,885. The firm has a market capitalization of $40.07 million, a P/E ratio of 4.54 and a beta of 0.79. Otelco has a 52-week low of $11.00 and a 52-week high of $18.31. The company has a 50 day simple moving average of $12.98 and a 200-day simple moving average of $15.30. The company has a quick ratio of 1.00, a current ratio of 1.27 and a debt-to-equity ratio of 4.57.
Otelco (NASDAQ:OTEL) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.50 EPS for the quarter. The company had revenue of $15.66 million for the quarter. Otelco had a net margin of 13.40% and a return on equity of 72.29%.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Otelco by 13.0% in the 2nd quarter. BlackRock Inc. now owns 9,078 shares of the company’s stock worth $146,000 after buying an additional 1,043 shares during the period. Acadian Asset Management LLC increased its position in Otelco by 5.1% during the 2nd quarter. Acadian Asset Management LLC now owns 15,810 shares of the company’s stock valued at $254,000 after purchasing an additional 766 shares during the period. Finally, LSV Asset Management increased its position in Otelco by 14.2% during the 1st quarter. LSV Asset Management now owns 17,700 shares of the company’s stock valued at $290,000 after purchasing an additional 2,200 shares during the period. 11.56% of the stock is currently owned by institutional investors.
Otelco Company Profile
Otelco Inc provides a range of telecommunications services on a retail and wholesale basis. The company offers local services, including voice lines that provide local dial tone and calling features, such as caller identification, call waiting, call forwarding, and voicemail; long distance services; billing and collection services for other carriers under contract; and directory advertising services.
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