Optical Cable Corporation (NASDAQ:OCC - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.20 and traded as high as $15.50. Optical Cable shares last traded at $14.35, with a volume of 205,769 shares.
Analysts Set New Price Targets
Several equities research analysts have recently commented on OCC shares. Wall Street Zen cut Optical Cable from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Optical Cable in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Sell".
Check Out Our Latest Analysis on Optical Cable
Optical Cable Price Performance
The company has a 50-day moving average of $17.06 and a two-hundred day moving average of $11.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.08 and a quick ratio of 0.74. The stock has a market capitalization of $126.71 million, a PE ratio of 119.59 and a beta of 0.55.
Optical Cable (NASDAQ:OCC - Get Free Report) last issued its quarterly earnings results on Monday, June 8th. The communications equipment provider reported $0.12 EPS for the quarter. The firm had revenue of $22.21 million during the quarter. Optical Cable had a net margin of 1.29% and a return on equity of 5.92%. During the same period last year, the company posted ($0.09) EPS.
Insider Activity
In other news, CFO Tracy G. Smith sold 16,453 shares of the firm's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $17.23, for a total value of $283,485.19. Following the transaction, the chief financial officer owned 329,826 shares of the company's stock, valued at approximately $5,682,901.98. This trade represents a 4.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 22.40% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in OCC. Gendell Jeffrey L grew its stake in shares of Optical Cable by 47.4% during the fourth quarter. Gendell Jeffrey L now owns 415,340 shares of the communications equipment provider's stock valued at $1,848,000 after acquiring an additional 133,510 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Optical Cable by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 268,932 shares of the communications equipment provider's stock worth $1,197,000 after purchasing an additional 4,497 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Optical Cable by 8.3% in the 1st quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider's stock worth $348,000 after buying an additional 9,535 shares during the last quarter. Sei Investments Co. bought a new position in Optical Cable in the first quarter worth about $754,000. Finally, Two Sigma Investments LP acquired a new position in Optical Cable during the 3rd quarter valued at approximately $487,000. 13.61% of the stock is currently owned by hedge funds and other institutional investors.
Optical Cable Company Profile
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Optical Cable, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Optical Cable wasn't on the list.
While Optical Cable currently has a Sell rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
