Optical Cable (NASDAQ:OCC) Stock Price Crosses Above 200-Day Moving Average of $2.75

Optical Cable Co. (NASDAQ:OCC) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.75 and traded as high as $2.83. Optical Cable shares last traded at $2.77, with a volume of 6,243 shares trading hands.

Analysts Set New Price Targets

Separately, TheStreet downgraded shares of Optical Cable from a “c” rating to a “d+” rating in a report on Thursday, March 14th.

Optical Cable Stock Performance

The business’s fifty day moving average price is $2.88 and its 200-day moving average price is $2.75. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.31 and a current ratio of 4.73. The stock has a market cap of $21.74 million, a PE ratio of -92.30 and a beta of 0.51.

Optical Cable (NASDAQ:OCC) last announced its quarterly earnings results on Wednesday, March 13th. The communications equipment provider reported ($0.18) earnings per share (EPS) for the quarter. The company had revenue of $14.86 million for the quarter. Optical Cable had a negative net margin of 0.24% and a negative return on equity of 6.09%.

Institutional Trading of Optical Cable

A number of institutional investors have recently made changes to their positions in OCC. Royal Bank of Canada boosted its holdings in shares of Optical Cable by 15.4% in the first quarter. Royal Bank of Canada now owns 114,933 shares of the communications equipment provider’s stock worth $487,000 after buying an additional 15,300 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Optical Cable by 0.9% in the third quarter. Dimensional Fund Advisors LP now owns 346,258 shares of the communications equipment provider’s stock worth $1,195,000 after buying an additional 3,047 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Optical Cable by 115.9% in the second quarter. BlackRock Inc. now owns 31,370 shares of the communications equipment provider’s stock worth $127,000 after buying an additional 16,840 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Optical Cable in the second quarter worth approximately $73,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Optical Cable in the fourth quarter worth approximately $49,000. Hedge funds and other institutional investors own 13.61% of the company’s stock.

Optical Cable Company Profile

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.