Optical Cable (NASDAQ:OCC) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Optical Cable shares rose above their 200-day moving average, trading as high as $15.19 before last changing hands at $14.73. The move came on volume of 163,065 shares, with the stock’s 200-day average at $10.35.
• Analyst sentiment remains mixed to bearish: Weiss Ratings reiterated a sell rating, while Wall Street Zen upgraded the stock from hold to buy. MarketBeat says the overall average rating is still Sell.
• The company recently reported Q4 earnings of $0.12 per share on revenue of $22.21 million, improving from a loss in the same period a year earlier. CFO Tracy G. Smith also sold 16,453 shares in a transaction worth about $283,485.

Shares of Optical Cable Corporation (NASDAQ:OCC - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.35 and traded as high as $15.19. Optical Cable shares last traded at $14.73, with a volume of 163,065 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Optical Cable in a research report on Tuesday, April 21st. Wall Street Zen upgraded Optical Cable from a "hold" rating to a "buy" rating in a report on Sunday, July 5th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of "Sell".

Optical Cable Price Performance

The stock has a market capitalization of $130.07 million, a price-to-earnings ratio of 122.76 and a beta of 0.54. The company has a current ratio of 2.08, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17. The company's 50 day moving average is $16.32 and its 200 day moving average is $10.35.

Optical Cable (NASDAQ:OCC - Get Free Report) last posted its quarterly earnings data on Monday, June 8th. The communications equipment provider reported $0.12 earnings per share for the quarter. Optical Cable had a return on equity of 5.92% and a net margin of 1.29%.The business had revenue of $22.21 million during the quarter. During the same period in the previous year, the company posted ($0.09) earnings per share.

Insider Buying and Selling

In other news, CFO Tracy G. Smith sold 16,453 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $17.23, for a total value of $283,485.19. Following the completion of the sale, the chief financial officer directly owned 329,826 shares of the company's stock, valued at $5,682,901.98. This trade represents a 4.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Optical Cable

Several institutional investors have recently made changes to their positions in the stock. Gendell Jeffrey L lifted its stake in shares of Optical Cable by 47.4% in the fourth quarter. Gendell Jeffrey L now owns 415,340 shares of the communications equipment provider's stock valued at $1,848,000 after purchasing an additional 133,510 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Optical Cable by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 268,932 shares of the communications equipment provider's stock worth $1,197,000 after acquiring an additional 4,497 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Optical Cable by 8.3% during the 1st quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider's stock worth $348,000 after acquiring an additional 9,535 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of Optical Cable in the 1st quarter worth approximately $754,000. Finally, Two Sigma Investments LP purchased a new position in Optical Cable in the 3rd quarter valued at approximately $487,000. 13.61% of the stock is currently owned by hedge funds and other institutional investors.

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.

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