Optical Cable (NASDAQ:OCC) Shares Cross Above 200 Day Moving Average – Should You Sell?

Optical Cable Corporation (NASDAQ:OCC)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.02 and traded as high as $9.23. Optical Cable shares last traded at $9.11, with a volume of 67,042 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Optical Cable in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Optical Cable Stock Performance

The stock has a market cap of $80.44 million, a P/E ratio of -101.21 and a beta of 0.35. The firm has a 50 day moving average of $6.55 and a two-hundred day moving average of $7.02.

Optical Cable (NASDAQ:OCC) last issued its quarterly earnings results on Tuesday, March 10th. The communications equipment provider reported ($0.05) EPS for the quarter. Optical Cable had a negative return on equity of 4.14% and a negative net margin of 1.01%.The business had revenue of $16.43 million during the quarter.

Hedge Funds Weigh In On Optical Cable

Several large investors have recently bought and sold shares of OCC. Dynamic Technology Lab Private Ltd bought a new stake in Optical Cable in the 4th quarter valued at $57,000. Citadel Advisors LLC bought a new position in shares of Optical Cable during the 3rd quarter worth about $102,000. Shikiar Asset Management Inc. raised its position in shares of Optical Cable by 62.9% during the fourth quarter. Shikiar Asset Management Inc. now owns 24,600 shares of the communications equipment provider’s stock valued at $109,000 after buying an additional 9,500 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Optical Cable during the third quarter valued at about $135,000. Finally, Round Rock Advisors LLC bought a new stake in shares of Optical Cable in the fourth quarter valued at about $139,000. 13.61% of the stock is currently owned by institutional investors and hedge funds.

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.