Optical Cable (NASDAQ:OCC) Stock Rating Upgraded by Wall Street Zen

Optical Cable (NASDAQ:OCC) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Optical Cable in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Optical Cable Stock Performance

Optical Cable stock opened at $22.91 on Friday. The firm’s 50 day simple moving average is $12.54 and its 200 day simple moving average is $8.49. The company has a current ratio of 2.08, a quick ratio of 0.54 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $202.30 million, a PE ratio of 190.93 and a beta of 0.62. Optical Cable has a 1-year low of $2.56 and a 1-year high of $27.98.

Optical Cable (NASDAQ:OCC) last posted its earnings results on Monday, June 8th. The communications equipment provider reported $0.12 earnings per share for the quarter. Optical Cable had a net margin of 1.29% and a return on equity of 5.92%. The business had revenue of $22.21 million for the quarter. During the same period last year, the company posted ($0.09) EPS.

Institutional Investors Weigh In On Optical Cable

Several hedge funds have recently bought and sold shares of OCC. Gendell Jeffrey L lifted its position in Optical Cable by 47.4% during the fourth quarter. Gendell Jeffrey L now owns 415,340 shares of the communications equipment provider’s stock valued at $1,848,000 after purchasing an additional 133,510 shares during the last quarter. Sei Investments Co. purchased a new stake in Optical Cable during the first quarter valued at about $754,000. Two Sigma Investments LP purchased a new stake in Optical Cable during the third quarter valued at about $487,000. Jane Street Group LLC purchased a new stake in Optical Cable during the fourth quarter valued at about $210,000. Finally, Round Rock Advisors LLC purchased a new stake in Optical Cable during the fourth quarter valued at about $139,000. 13.61% of the stock is currently owned by institutional investors.

About Optical Cable

Optical Cable Corporation (NASDAQ: OCC) is a publicly traded designer and manufacturer of optical fiber and copper communications cable solutions. Headquartered in Roanoke, Virginia, the company develops a broad range of standard and custom cable assemblies, connectors, hardware and accessories. Its product portfolio addresses data transmission requirements in demanding environments, including long-haul telecommunications, industrial automation, defense systems and submersible applications.

The company’s offerings are organized across multiple product lines, encompassing outside-plant fiber optic cable for aerial and underground installations, indoor/outdoor copper connectivity and specialty engineered cable assemblies.