Optical Cable Corporation (NASDAQ:OCC - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.77 and traded as high as $6.95. Optical Cable shares last traded at $6.95, with a volume of 116,052 shares changing hands.
Analysts Set New Price Targets
Separately, Wall Street Zen upgraded shares of Optical Cable to a "buy" rating in a research report on Saturday, August 9th.
Get Our Latest Research Report on OCC
Optical Cable Price Performance
The company has a market capitalization of $52.05 million, a P/E ratio of -16.57 and a beta of 0.37. The company has a 50 day moving average price of $5.08 and a 200 day moving average price of $3.81. The company has a current ratio of 1.89, a quick ratio of 0.67 and a debt-to-equity ratio of 0.13.
Optical Cable (NASDAQ:OCC - Get Free Report) last announced its earnings results on Thursday, June 5th. The communications equipment provider reported ($0.09) earnings per share for the quarter. Optical Cable had a negative return on equity of 14.94% and a negative net margin of 4.33%.The firm had revenue of $17.55 million for the quarter.
Hedge Funds Weigh In On Optical Cable
An institutional investor recently raised its position in Optical Cable stock. Gendell Jeffrey L increased its position in Optical Cable Corporation (NASDAQ:OCC - Free Report) by 51.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,952 shares of the communications equipment provider's stock after buying an additional 22,952 shares during the period. Gendell Jeffrey L owned 0.83% of Optical Cable worth $197,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 13.61% of the company's stock.
Optical Cable Company Profile
(
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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.
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