Optical Cable (NASDAQ:OCC) Upgraded to Buy at Wall Street Zen

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

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

Optical Cable Stock Performance

NASDAQ:OCC opened at $16.00 on Friday. The firm has a market capitalization of $141.28 million, a PE ratio of 133.34 and a beta of 0.54. The business’s fifty day moving average price is $15.32 and its 200 day moving average price is $9.67. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.08 and a quick ratio of 0.74. Optical Cable has a 12 month low of $3.45 and a 12 month high of $27.98.

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

Hedge Funds Weigh In On Optical Cable

Large investors have recently bought and sold shares of the stock. Shikiar Asset Management Inc. grew its holdings in shares of Optical Cable by 14.4% during the first quarter. Shikiar Asset Management Inc. now owns 28,150 shares of the communications equipment provider’s stock worth $232,000 after purchasing an additional 3,550 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Optical Cable by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 268,932 shares of the communications equipment provider’s stock valued at $1,197,000 after purchasing an additional 4,497 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Optical Cable by 8.3% in the 1st quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider’s stock valued at $348,000 after purchasing an additional 9,535 shares during the period. State Street Corp boosted its position in shares of Optical Cable by 37.4% in the 4th quarter. State Street Corp now owns 36,773 shares of the communications equipment provider’s stock valued at $164,000 after purchasing an additional 10,000 shares during the period. Finally, Citadel Advisors LLC purchased a new position in Optical Cable during the 3rd quarter worth approximately $102,000. Institutional investors and hedge funds own 13.61% of the company’s stock.

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.