Optical Cable (NASDAQ:OCC) Share Price Passes Above Two Hundred Day Moving Average of $2.75

Optical Cable Co. (NASDAQ:OCC) passed 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 changing hands.

Analyst Upgrades and Downgrades

Separately, TheStreet cut Optical Cable from a “c” rating to a “d+” rating in a research note on Thursday, March 14th.

Optical Cable Stock Down 2.8 %

The stock has a market cap of $21.74 million, a P/E ratio of -92.30 and a beta of 0.51. The company has a quick ratio of 1.31, a current ratio of 4.73 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $2.88 and a 200-day simple moving average of $2.75.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OCC. Mercer Global Advisors Inc. ADV acquired a new position in shares of Optical Cable in the second quarter valued at $73,000. Envestnet Asset Management Inc. acquired a new position in shares of Optical Cable in the fourth quarter valued at $49,000. BlackRock Inc. raised its stake 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 valued at $127,000 after purchasing an additional 16,840 shares in the last quarter. Royal Bank of Canada raised its stake 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 valued at $487,000 after purchasing an additional 15,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake 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 valued at $1,195,000 after purchasing an additional 3,047 shares in the last 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.