Optical Cable (NASDAQ:OCC) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Optical Cable shares rose above their 200-day moving average, reaching $16.29 and last trading at $15.95, up 3.8%. The 200-day average is $11.68, while the 50-day average is $17.25.
• Analyst sentiment remains negative: Weiss Ratings reiterated a “sell” rating, Wall Street Zen downgraded the stock to “hold,” and MarketBeat reports an average rating of “Sell.”
• The company reported quarterly revenue of $22.21 million and earnings of $0.12 per share, compared with a loss of $0.09 per share a year earlier. Meanwhile, CFO Tracy G. Smith sold 16,453 shares, reducing her position by 4.75%.

Shares of Optical Cable Corporation (NASDAQ:OCC - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.68 and traded as high as $16.29. Optical Cable shares last traded at $15.95, with a volume of 147,276 shares trading hands.

Analyst Ratings Changes

Several brokerages have commented on OCC. Weiss Ratings reiterated a "sell (d-)" rating on shares of Optical Cable in a research note on Friday, July 17th. Wall Street Zen lowered shares of Optical Cable from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of "Sell".

Optical Cable Trading Up 3.8%

The company has a 50-day moving average price of $17.25 and a 200 day moving average price of $11.68. The stock has a market capitalization of $140.84 million, a P/E ratio of 132.93 and a beta of 0.55. The company has a current ratio of 2.08, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17.

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

Insiders Place Their Bets

In other Optical Cable news, CFO Tracy G. Smith sold 16,453 shares of the business's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $17.23, for a total transaction of $283,485.19. Following the sale, the chief financial officer owned 329,826 shares of the company's stock, valued at approximately $5,682,901.98. The trade was a 4.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 22.40% of the company's stock.

Institutional Investors Weigh In On Optical Cable

Large investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new position in Optical Cable in the 4th quarter worth $57,000. Citadel Advisors LLC acquired a new position in shares of Optical Cable in the third quarter valued at about $102,000. Round Rock Advisors LLC purchased a new position in shares of Optical Cable in the fourth quarter worth about $139,000. State Street Corp increased its holdings in Optical Cable by 37.4% in the 4th quarter. State Street Corp now owns 36,773 shares of the communications equipment provider's stock worth $164,000 after buying an additional 10,000 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Optical Cable in the 4th quarter valued at $210,000. 13.61% of the stock is owned by hedge funds and other institutional investors.

Optical Cable Company Profile

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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