Optical Cable (NASDAQ:OCC) Downgraded by Wall Street Zen to Hold

Optical Cable (NASDAQ:OCC) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optical Cable in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Optical Cable Stock Performance

OCC opened at $18.37 on Friday. The business has a 50 day moving average price of $14.62 and a two-hundred day moving average price of $9.36. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.08 and a quick ratio of 0.74. The company has a market capitalization of $162.21 million, a price-to-earnings ratio of 153.10 and a beta of 0.62. Optical Cable has a 1-year low of $2.77 and a 1-year high of $27.98.

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

Institutional Trading of Optical Cable

A number of large investors have recently added to or reduced their stakes in OCC. Dynamic Technology Lab Private Ltd acquired a new position in Optical Cable in the fourth quarter worth approximately $57,000. Citadel Advisors LLC bought a new position in shares of Optical Cable in the third quarter valued at $102,000. Shikiar Asset Management Inc. increased its holdings in shares of Optical Cable by 62.9% in the fourth quarter. Shikiar Asset Management Inc. now owns 24,600 shares of the communications equipment provider’s stock valued at $109,000 after buying an additional 9,500 shares in the last quarter. Round Rock Advisors LLC acquired a new stake in shares of Optical Cable during the 4th quarter valued at $139,000. Finally, State Street Corp lifted its position in shares of Optical Cable by 37.4% during the 4th quarter. State Street Corp now owns 36,773 shares of the communications equipment provider’s stock valued at $164,000 after acquiring an additional 10,000 shares during the last quarter. 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.