Optical Cable (NASDAQ:OCC) Raised 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 on Saturday.

A number of other research analysts have also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optical Cable in a research report on Friday, July 17th. Zacks Research raised shares of Optical Cable to a “hold” rating in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Optical Cable currently has an average rating of “Reduce”.

Optical Cable Price Performance

NASDAQ OCC opened at $13.55 on Friday. The company has a 50-day moving average price of $15.91 and a 200-day moving average price of $12.60. Optical Cable has a 52 week low of $4.02 and a 52 week high of $27.98. The company has a quick ratio of 0.74, a current ratio of 2.08 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $119.65 million, a P/E ratio of 112.93 and a beta of 0.55.

Optical Cable (NASDAQ:OCC) last announced its 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 net margin of 1.29% and a return on equity of 5.92%. During the same quarter last year, the firm posted ($0.09) earnings per share. Equities research analysts anticipate that Optical Cable will post 0.49 earnings per share for the current year.

Insiders Place Their Bets

In other Optical Cable news, CFO Tracy G. Smith sold 16,453 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $17.23, for a total transaction of $283,485.19. Following the completion of the sale, the chief financial officer directly owned 329,826 shares of the company’s stock, valued at $5,682,901.98. This trade represents a 4.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Optical Cable

Several institutional investors have recently bought and sold shares of OCC. Dynamic Technology Lab Private Ltd purchased a new stake in Optical Cable in the 4th quarter worth $57,000. Citadel Advisors LLC bought a new position in shares of Optical Cable during the 3rd quarter valued at about $102,000. State Street Corp grew its position in shares of Optical Cable by 37.4% during the fourth 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 in the last quarter. Jane Street Group LLC purchased a new position in shares of Optical Cable during the fourth quarter valued at about $210,000. Finally, Bridgeway Capital Management LLC increased its holdings in shares of Optical Cable by 46.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 48,268 shares of the communications equipment provider’s stock worth $215,000 after purchasing an additional 15,255 shares during the last quarter. 13.61% of the stock is owned by hedge funds and other institutional investors.

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.