Optical Cable (NASDAQ:OCC) Shares Cross Above 200 Day Moving Average – Here’s Why

Optical Cable Co. (NASDAQ:OCC)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.21 and traded as high as $4.05. Optical Cable shares last traded at $4.04, with a volume of 21,703 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Optical Cable from a “hold” rating to a “buy” rating in a report on Saturday.

Optical Cable Trading Down 1.2 %

The company has a market cap of $33.21 million, a P/E ratio of -7.48 and a beta of 0.34. The stock’s 50-day moving average is $4.56 and its two-hundred day moving average is $3.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.49 and a quick ratio of 1.74.

Optical Cable (NASDAQ:OCC) last issued its quarterly earnings data on Monday, December 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter. Optical Cable had a negative net margin of 6.31% and a negative return on equity of 19.50%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Optical Cable stock. Bank of Montreal Can purchased a new position in shares of Optical Cable Co. (NASDAQ:OCC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,000 shares of the communications equipment provider’s stock, valued at approximately $36,000. Bank of Montreal Can owned about 0.12% of Optical Cable as of its most recent filing with the Securities & Exchange Commission. Institutional investors 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.