Optical Cable (NASDAQ:OCC) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Optical Cable Corporation's stock price recently surpassed its 200-day moving average, reaching a high of $8.33 before closing at $8.12.
• The company's quarterly earnings reported a $0.04 EPS, with revenues of $19.92 million and a negative net margin of 1.55%.
• Royal Bank of Canada increased its stake in Optical Cable by 8.3%, indicating growing confidence from institutional investors.

Optical Cable Corporation (NASDAQ:OCC - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.37 and traded as high as $8.33. Optical Cable shares last traded at $8.12, with a volume of 38,792 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Optical Cable from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th.

Optical Cable Stock Down 0.9%

The firm has a market cap of $72.02 million, a price-to-earnings ratio of -58.00 and a beta of 0.36. The business has a 50 day moving average of $6.50 and a 200 day moving average of $4.37.

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

Institutional Trading of Optical Cable

A hedge fund recently raised its stake in Optical Cable stock. Royal Bank of Canada boosted its holdings in Optical Cable Corporation (NASDAQ:OCC - Free Report) by 8.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 124,769 shares of the communications equipment provider's stock after buying an additional 9,535 shares during the period. Royal Bank of Canada owned 1.52% of Optical Cable worth $348,000 at the end of the most recent reporting period. 13.61% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.