Optical Cable’s (OCC) Sell (D-) Rating Reiterated at Weiss Ratings

Optical Cable (NASDAQ:OCC)‘s stock had its “sell (d-)” rating reaffirmed by Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

Separately, Wall Street Zen downgraded shares of Optical Cable from a “buy” rating to a “hold” rating in a research note on Saturday, September 13th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Optical Cable Price Performance

NASDAQ:OCC opened at $7.85 on Friday. The firm has a market capitalization of $69.63 million, a PE ratio of -56.07 and a beta of 0.52. The business’s fifty day moving average price is $7.86 and its 200 day moving average price is $5.12. Optical Cable has a 12 month low of $2.02 and a 12 month high of $11.50.

Optical Cable (NASDAQ:OCC) last posted its earnings results on Thursday, September 11th. The communications equipment provider reported $0.04 EPS for the quarter. Optical Cable had a negative return on equity of 5.80% and a negative net margin of 1.55%.The firm had revenue of $19.92 million for the quarter.

Institutional Investors Weigh In On Optical Cable

Several hedge funds have recently made changes to their positions in OCC. Royal Bank of Canada boosted its stake in shares of Optical Cable by 8.3% during the first quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider’s stock worth $348,000 after buying an additional 9,535 shares during the period. Gendell Jeffrey L boosted its stake in shares of Optical Cable by 51.0% during the second quarter. Gendell Jeffrey L now owns 67,952 shares of the communications equipment provider’s stock worth $197,000 after buying an additional 22,952 shares during the period. Finally, Shikiar Asset Management Inc. acquired a new stake in shares of Optical Cable during the third quarter worth about $123,000. Institutional investors and hedge funds own 13.61% of the company’s stock.

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.