Optical Cable (NASDAQ:OCC) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened
by Mitch Edgeman · The Markets DailyOptical Cable Corporation (NASDAQ:OCC – Get Free Report) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.83 and traded as low as $5.65. Optical Cable shares last traded at $6.11, with a volume of 121,186 shares.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optical Cable in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Optical Cable currently has a consensus rating of “Sell”.
Read Our Latest Research Report on OCC
Optical Cable Stock Up 1.0%
The firm has a market cap of $71.41 million, a price-to-earnings ratio of -89.55 and a beta of 0.59. The company has a 50-day moving average price of $5.32 and a 200 day moving average price of $6.85.
Optical Cable (NASDAQ:OCC – Get Free Report) last announced its quarterly earnings data on Tuesday, March 10th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter. Optical Cable had a negative return on equity of 4.15% and a negative net margin of 1.01%.The business had revenue of $16.43 million during the quarter.
Institutional Trading of Optical Cable
Institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new position in Optical Cable during the fourth quarter valued at approximately $57,000. Citadel Advisors LLC acquired a new stake in shares of Optical Cable during the 3rd quarter valued at $102,000. Shikiar Asset Management Inc. grew its holdings in shares of Optical Cable by 62.9% during the 4th quarter. Shikiar Asset Management Inc. now owns 24,600 shares of the communications equipment provider’s stock valued at $109,000 after acquiring an additional 9,500 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Optical Cable in the third quarter worth $135,000. Finally, Round Rock Advisors LLC purchased a new stake in shares of Optical Cable during the fourth quarter worth $139,000. 13.61% of the stock is currently owned by institutional investors and hedge funds.
About Optical Cable
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.