Optical Cable (NASDAQ:OCC) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Optical Cable Corporation (NASDAQ:OCC)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.68 and traded as high as $16.29. Optical Cable shares last traded at $15.95, with a volume of 147,276 shares changing hands.

Analyst Ratings Changes

OCC has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optical Cable in a report on Friday, July 17th. Wall Street Zen lowered shares of Optical Cable from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Optical Cable Stock Down 1.5%

The company has a debt-to-equity ratio of 0.17, a current ratio of 2.08 and a quick ratio of 0.74. The business’s 50 day moving average price is $17.31 and its 200 day moving average price is $11.77. The firm has a market cap of $146.84 million, a PE ratio of 138.59 and a beta of 0.55.

Optical Cable (NASDAQ:OCC) last posted its quarterly earnings data on Monday, June 8th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter. Optical Cable had a return on equity of 5.92% and a net margin of 1.29%.The company had revenue of $22.21 million for the quarter. During the same quarter in the previous year, the firm posted ($0.09) earnings per share.

Insider Activity

In other news, CFO Tracy G. Smith sold 16,453 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $17.23, for a total value of $283,485.19. Following the completion of the sale, the chief financial officer directly owned 329,826 shares in the company, valued at $5,682,901.98. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 22.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd purchased a new stake in Optical Cable in the 4th quarter valued at $57,000. Citadel Advisors LLC purchased a new stake in shares of Optical Cable in the third quarter valued at about $102,000. Round Rock Advisors LLC acquired a new stake in Optical Cable during the fourth quarter worth about $139,000. State Street Corp raised its stake in Optical Cable by 37.4% during the fourth quarter. State Street Corp now owns 36,773 shares of the communications equipment provider’s stock worth $164,000 after purchasing an additional 10,000 shares during the period. Finally, Jane Street Group LLC acquired a new position in Optical Cable in the 4th quarter valued at about $210,000. 13.61% of the stock is owned by hedge funds and other institutional investors.

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.