Optical Cable (NASDAQ:OCC) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Shares of Optical Cable Corporation (NASDAQ:OCC) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.25 and traded as high as $13.95. Optical Cable shares last traded at $12.32, with a volume of 429,782 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Optical Cable in a research report on Tuesday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Optical Cable presently has a consensus rating of “Sell”.

Optical Cable Stock Performance

The company’s fifty day moving average price is $8.35 and its 200-day moving average price is $7.25. The stock has a market cap of $108.79 million, a P/E ratio of -136.87 and a beta of 0.35.

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

Hedge Funds Weigh In On Optical Cable

Several hedge funds have recently modified their holdings of the stock. Gendell Jeffrey L grew its position in Optical Cable by 47.4% during the 4th quarter. Gendell Jeffrey L now owns 415,340 shares of the communications equipment provider’s stock worth $1,848,000 after purchasing an additional 133,510 shares during the last quarter. Two Sigma Investments LP purchased a new stake in Optical Cable during the 3rd quarter worth approximately $487,000. Jane Street Group LLC purchased a new stake in Optical Cable during the 4th quarter worth approximately $210,000. Round Rock Advisors LLC purchased a new stake in Optical Cable during the 4th quarter worth approximately $139,000. Finally, Bridgeway Capital Management LLC grew its position in Optical Cable by 162.0% during the 3rd quarter. Bridgeway Capital Management LLC now owns 33,013 shares of the communications equipment provider’s stock worth $268,000 after purchasing an additional 20,413 shares during the last quarter. Institutional investors and hedge funds own 13.61% of the company’s stock.

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.