Optical Cable (NASDAQ:OCC) Downgraded to Hold Rating by Wall Street Zen

Optical Cable (NASDAQ:OCC) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Optical Cable Trading Up 14.4%

Shares of OCC stock opened at $9.79 on Friday. Optical Cable has a twelve month low of $2.02 and a twelve month high of $10.07. The firm has a 50-day moving average price of $5.69 and a 200 day moving average price of $3.96. The company has a current ratio of 1.89, a quick ratio of 0.67 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $80.57 million, a price-to-earnings ratio of -69.92 and a beta of 0.37.

Optical Cable (NASDAQ:OCC) last posted its quarterly earnings data on Thursday, September 11th. The communications equipment provider reported $0.04 EPS for the quarter. Optical Cable had a negative net margin of 1.55% and a negative return on equity of 5.68%. The company had revenue of $19.92 million during the quarter.

Institutional Trading of Optical Cable

A hedge fund recently raised its stake in Optical Cable stock. Gendell Jeffrey L raised its position in Optical Cable Corporation (NASDAQ:OCC) by 51.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,952 shares of the communications equipment provider’s stock after acquiring an additional 22,952 shares during the quarter. Gendell Jeffrey L owned 0.83% of Optical Cable worth $197,000 at the end of the most recent quarter. 13.61% of the stock is currently owned by institutional investors and hedge funds.

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.