Optical Cable (NASDAQ:OCC) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Optical Cable Corporation (NASDAQ:OCC)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $10.35 and traded as high as $15.19. Optical Cable shares last traded at $14.73, with a volume of 163,065 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OCC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optical Cable in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Optical Cable from a “hold” rating to a “buy” rating in a research note on Sunday, July 5th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Optical Cable Price Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 2.08. The company has a 50-day moving average of $16.32 and a 200-day moving average of $10.35. The stock has a market capitalization of $130.07 million, a price-to-earnings ratio of 122.76 and a beta of 0.54.

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

Insider Activity at Optical Cable

In related news, CFO Tracy G. Smith sold 16,453 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $17.23, for a total transaction of $283,485.19. Following the sale, the chief financial officer owned 329,826 shares of the company’s stock, valued at $5,682,901.98. This trade represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 22.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OCC. Gendell Jeffrey L lifted its stake in shares of 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 buying an additional 133,510 shares during the period. Sei Investments Co. purchased a new stake in Optical Cable in the 1st quarter worth approximately $754,000. Two Sigma Investments LP acquired a new position in Optical Cable in the 3rd quarter valued at $487,000. Jane Street Group LLC acquired a new position in Optical Cable in the 4th quarter valued at $210,000. Finally, Round Rock Advisors LLC acquired a new position in Optical Cable in the 4th quarter valued at $139,000. 13.61% of the stock is currently owned by hedge funds and other institutional investors.

Optical Cable Company Profile

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.