Optical Cable (NASDAQ:OCC) Stock Price Crosses Above 200-Day Moving Average of $2.75

Optical Cable Co. (NASDAQ:OCC) shares 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 changing hands.

Analyst Ratings Changes

Separately, TheStreet downgraded shares of Optical Cable from a “c” rating to a “d+” rating in a research note on Thursday, March 14th.

Optical Cable Trading Down 2.6 %

The company has a quick ratio of 1.31, a current ratio of 4.73 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $21.74 million, a P/E ratio of -92.30 and a beta of 0.51. The firm’s 50 day simple moving average is $2.88 and its two-hundred day simple moving average is $2.75.

Optical Cable (NASDAQ:OCC) last posted its quarterly earnings results on Wednesday, March 13th. The communications equipment provider reported ($0.18) earnings per share for the quarter. The company had revenue of $14.86 million during the quarter. Optical Cable had a negative net margin of 0.24% and a negative return on equity of 6.09%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OCC. Mercer Global Advisors Inc. ADV acquired a new position in shares of Optical Cable during the fourth quarter valued at about $49,000. Envestnet Asset Management Inc. purchased a new position in Optical Cable during the fourth quarter worth about $49,000. BlackRock Inc. boosted its holdings in Optical Cable by 115.9% during the second 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 last quarter. Royal Bank of Canada boosted its holdings 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 worth $487,000 after purchasing an additional 15,300 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Optical Cable by 0.9% during the third quarter. Dimensional Fund Advisors LP now owns 346,258 shares of the communications equipment provider’s stock worth $1,195,000 after purchasing an additional 3,047 shares during the last quarter. 13.61% of the stock is currently owned by institutional investors and hedge funds.

Optical Cable Company Profile

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.