Optical Cable (NASDAQ:OCC) Cut to "Hold" at Wall Street Zen

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 investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Optical Cable Price Performance

NASDAQ OCC traded up $0.54 during trading on Friday, reaching $8.95. 68,743 shares of the company's stock were exchanged, compared to its average volume of 111,326. Optical Cable has a fifty-two week low of $2.02 and a fifty-two week high of $10.07. The business has a 50 day moving average price of $6.02 and a 200-day moving average price of $4.09. The stock has a market capitalization of $79.39 million, a P/E ratio of -63.92 and a beta of 0.37.

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

Institutional Investors Weigh In On Optical Cable

A hedge fund recently raised its stake in Optical Cable stock. Gendell Jeffrey L increased its stake in shares of Optical Cable Corporation (NASDAQ:OCC - Free Report) by 51.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,952 shares of the communications equipment provider's stock after buying an additional 22,952 shares during the quarter. Gendell Jeffrey L owned about 0.83% of Optical Cable worth $197,000 at the end of the most recent reporting period. 13.61% of the stock is owned by hedge funds and other institutional investors.

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.