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

Key Points

• Optical Cable's shares passed above the 200-day moving average (200‑day MA $7.23) Monday, trading as high as $12.24 and last at $10.86 on volume of 441,223 shares.
• Analysts rate the stock poorly—Weiss Ratings reiterated a "sell (d-)" and MarketBeat shows an average rating of "Sell".
• Fundamentals remain weak: quarterly EPS was ($0.05) with revenue $16.43M, a negative PE of -120.65 and negative ROE/net margin, although several institutional investors have recently added small positions (institutional ownership ~13.6%).

Shares of Optical Cable Corporation (NASDAQ:OCC - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.23 and traded as high as $12.24. Optical Cable shares last traded at $10.86, with a volume of 441,223 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Optical Cable in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of "Sell".

Optical Cable Stock Down 1.3%

The firm's 50-day moving average is $8.67 and its 200-day moving average is $7.23. The company has a market cap of $95.89 million, a PE ratio of -120.65 and a beta of 0.53.

Optical Cable (NASDAQ:OCC - Get Free Report) last issued its quarterly earnings data on Tuesday, March 10th. The communications equipment provider reported ($0.05) EPS for the quarter. The company had revenue of $16.43 million during the quarter. Optical Cable had a negative return on equity of 4.14% and a negative net margin of 1.01%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in Optical Cable by 1.7% in 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 period. Two Sigma Investments LP bought a new position in Optical Cable in the third quarter worth $487,000. Royal Bank of Canada lifted its position in Optical Cable by 8.3% during the first quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider's stock valued at $348,000 after buying an additional 9,535 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of Optical Cable by 162.0% during the 3rd quarter. Bridgeway Capital Management LLC now owns 33,013 shares of the communications equipment provider's stock valued at $268,000 after buying an additional 20,413 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Optical Cable during the 4th quarter valued at $210,000. Hedge funds and other institutional investors own 13.61% of the company's stock.

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.

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.