Optical Cable (NASDAQ:OCC) Stock Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Shares jumped above the 200-day moving average, trading as high as $11.91 and last at $11.37 versus a 200‑day MA of $7.06 and a 50‑day MA of $7.16, signaling a technical breakout.
• Despite the rally, the stock carries an average rating of "Sell" (Weiss Ratings reiterated a "sell (d-)"), and the company shows weak fundamentals with a negative EPS of $0.05, a negative net margin, and a market cap of about $100.4 million.
• Institutional activity has increased recently—several funds (Bridgeway, RBC, Gendell, DFA) added shares and Two Sigma opened a new position—leaving roughly 13.61% of the stock held by institutions.

Shares of Optical Cable Corporation (NASDAQ:OCC - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.06 and traded as high as $11.91. Optical Cable shares last traded at $11.37, with a volume of 541,258 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Optical Cable in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of "Sell".

Optical Cable Price Performance

The stock has a 50-day simple moving average of $7.16 and a 200 day simple moving average of $7.06. The company has a market capitalization of $100.42 million, a PE ratio of -126.32 and a beta of 0.35.

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

Hedge Funds Weigh In On Optical Cable

Institutional investors have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC increased its stake in Optical Cable by 162.0% in the third quarter. Bridgeway Capital Management LLC now owns 33,013 shares of the communications equipment provider's stock valued at $268,000 after purchasing an additional 20,413 shares during the last quarter. Royal Bank of Canada increased its stake in Optical Cable by 8.3% in the first quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider's stock valued at $348,000 after purchasing an additional 9,535 shares during the last quarter. Gendell Jeffrey L increased its stake in Optical Cable by 47.4% in the fourth quarter. Gendell Jeffrey L now owns 415,340 shares of the communications equipment provider's stock valued at $1,848,000 after purchasing an additional 133,510 shares during the last quarter. Dimensional Fund Advisors LP increased 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 valued at $1,197,000 after purchasing an additional 4,497 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new position in Optical Cable in the third quarter valued at $487,000. 13.61% of the stock is currently owned by institutional investors and hedge funds.

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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