Clearstead Advisors LLC Decreases Stake in Optical Cable Corporation $OCC

Clearstead Advisors LLC decreased its holdings in Optical Cable Corporation (NASDAQ:OCC) by 85.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,898 shares of the communications equipment provider’s stock after selling 105,779 shares during the quarter. Clearstead Advisors LLC owned about 0.20% of Optical Cable worth $145,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Shikiar Asset Management Inc. acquired a new position in shares of Optical Cable during the 3rd quarter worth $123,000. Essex Investment Management Co. LLC purchased a new stake in Optical Cable during the third quarter worth about $135,000. Gendell Jeffrey L grew its position in Optical Cable by 51.0% during the second quarter. Gendell Jeffrey L now owns 67,952 shares of the communications equipment provider’s stock worth $197,000 after buying an additional 22,952 shares during the period. Finally, Royal Bank of Canada increased its holdings in Optical Cable by 8.3% in the first quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider’s stock valued at $348,000 after buying an additional 9,535 shares in the last quarter. 13.61% of the stock is currently owned by hedge funds and other institutional investors.

Optical Cable Trading Down 7.3%

Shares of NASDAQ OCC opened at $5.57 on Friday. The company’s 50-day moving average price is $4.96 and its 200 day moving average price is $6.77. Optical Cable Corporation has a 52 week low of $2.40 and a 52 week high of $11.50. The stock has a market cap of $49.41 million, a price-to-earnings ratio of -30.94 and a beta of 0.63.

Optical Cable (NASDAQ:OCC) last announced its quarterly earnings results on Thursday, December 18th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $19.83 million for the quarter. Optical Cable had a negative net margin of 1.99% and a negative return on equity of 7.90%. During the same period last year, the company earned $0.05 EPS.

Wall Street Analyst Weigh In

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

Optical Cable Company Profile

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.