Wall Street Zen Downgrades Optical Cable (NASDAQ:OCC) to Hold

Key Points

• Optical Cable (NASDAQ:OCC) has been downgraded from a "buy" to a "hold" rating by Wall Street Zen.
• The company's recent quarterly earnings showed a revenue of $19.92 million and an EPS of $0.04, alongside negative net margin and return on equity.
• Institutional investment has increased, with a hedge fund raising its stake in Optical Cable by 51.0% during the second quarter.

Optical Cable (NASDAQ:OCC - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Optical Cable Price Performance

OCC traded down $0.46 during midday trading on Friday, reaching $9.33. 186,942 shares of the company's stock traded hands, compared to its average volume of 102,618. The firm has a fifty day moving average of $5.81 and a two-hundred day moving average of $3.99. The stock has a market capitalization of $82.76 million, a price-to-earnings ratio of -66.64 and a beta of 0.36. Optical Cable has a 52 week low of $2.02 and a 52 week high of $10.07.

Optical Cable (NASDAQ:OCC - Get Free Report) last released its quarterly earnings results on Thursday, September 11th. The communications equipment provider reported $0.04 EPS for the quarter. The business had revenue of $19.92 million during the quarter. Optical Cable had a negative return on equity of 5.80% and a negative net margin of 1.55%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Optical Cable stock. Gendell Jeffrey L grew its position in shares of Optical Cable Corporation (NASDAQ:OCC - Free Report) by 51.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 67,952 shares of the communications equipment provider's stock after acquiring an additional 22,952 shares during the period. Gendell Jeffrey L owned about 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.

Optical Cable Company Profile

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.