Optical Cable Co. (NASDAQ:OCC – Get Free Report)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.75 and traded as high as $2.83. Optical Cable shares last traded at $2.77, with a volume of 6,243 shares.
Wall Street Analyst Weigh In
Separately, TheStreet cut shares of Optical Cable from a “c” rating to a “d+” rating in a report on Thursday, March 14th.
Get Our Latest Analysis on OCC
Optical Cable Price Performance
Optical Cable (NASDAQ:OCC – Get Free Report) last released its quarterly earnings results on Wednesday, March 13th. The communications equipment provider reported ($0.18) earnings per share for the quarter. Optical Cable had a negative net margin of 0.24% and a negative return on equity of 6.09%. The firm had revenue of $14.86 million for the quarter.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. Royal Bank of Canada grew its stake in Optical Cable by 15.4% during the first quarter. Royal Bank of Canada now owns 114,933 shares of the communications equipment provider’s stock valued at $487,000 after acquiring an additional 15,300 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Optical Cable by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 346,258 shares of the communications equipment provider’s stock valued at $1,195,000 after purchasing an additional 3,047 shares during the last quarter. BlackRock Inc. raised its position in Optical Cable by 115.9% in the 2nd quarter. BlackRock Inc. now owns 31,370 shares of the communications equipment provider’s stock worth $127,000 after purchasing an additional 16,840 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Optical Cable in the second quarter worth $73,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Optical Cable during the fourth quarter valued at about $49,000. 13.61% of the stock is owned by institutional investors.
About Optical Cable
Optical Cable Corporation, together with its subsidiaries, engages in the manufacture and sale of 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 and hybrid cables for high bandwidth transmission of data, video, and voice communications; and copper datacom cables, including unshielded and shielded twisted pair constructions.
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