Optical Cable Corporation (NASDAQ:OCC – Get Free Report) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $14.45 and traded as low as $14.38. Optical Cable shares last traded at $14.54, with a volume of 164,876 shares trading hands.
Wall Street Analyst Weigh In
OCC has been the subject of several research reports. Zacks Research raised shares of Optical Cable to a “hold” rating in a research note on Wednesday, August 26th. Weiss Ratings raised shares of Optical Cable from a “sell (d-)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. Finally, Wall Street Zen raised shares of Optical Cable from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 12th. Two analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company presently has an average rating of “Hold”.
Check Out Our Latest Research Report on OCC
Optical Cable Stock Down 9.1%
The firm has a market cap of $114.15 million, a PE ratio of 44.52 and a beta of 0.57. The company has a current ratio of 2.17, a quick ratio of 0.77 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average price of $14.86 and a 200-day moving average price of $14.49.
Optical Cable (NASDAQ:OCC – Get Free Report) last released its quarterly earnings data on Wednesday, September 9th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. Optical Cable had a net margin of 3.10% and a return on equity of 15.88%. The business had revenue of $24.30 million during the quarter, compared to analysts’ expectations of $24.50 million. Research analysts forecast that Optical Cable Corporation will post 0.49 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Round Rock Advisors LLC boosted its stake in Optical Cable by 88.5% during the 2nd quarter. Round Rock Advisors LLC now owns 58,937 shares of the communications equipment provider’s stock worth $1,236,000 after purchasing an additional 27,665 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Optical Cable in the 2nd quarter worth $216,000. Sei Investments Co. purchased a new position in Optical Cable during the first quarter worth about $754,000. Finally, Shikiar Asset Management Inc. lifted its holdings in shares of Optical Cable by 14.4% in the 1st quarter. Shikiar Asset Management Inc. now owns 28,150 shares of the communications equipment provider’s stock valued at $232,000 after buying an additional 3,550 shares during the period. Hedge funds and other institutional investors own 13.61% of the company’s stock.
Optical Cable Company Profile
Optical Cable Corporation (NASDAQ:OCC) designs and manufactures fiber optic cable and connectivity solutions for data communications and other demanding applications. Its product offerings include fiber optic cables, assemblies, connectors, racks, panels and related connectivity products used to transmit voice, data and video signals.
The company serves a range of markets, including enterprise networks, data centers, telecommunications, industrial facilities, broadcast and entertainment, military and aerospace, and other environments requiring high-performance or ruggedized communications infrastructure.
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