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

Key Points

• Optical Cable (NASDAQ: OCC) stock has surpassed its 200-day moving average of $4.61, currently trading at $9.85, experiencing an 8.5% increase.
• Analyst ratings indicate a general negativity towards the stock, with Weiss Ratings reaffirming a "sell (d-)" rating and Wall Street Zen downgrading it from "buy" to "hold."
• The company reported a quarterly revenue of $19.92 million and earnings of $0.04 per share, but shows a negative return on equity of 5.80% and a net margin of -1.55%.

Optical Cable Corporation (NASDAQ:OCC - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.61 and traded as high as $10.55. Optical Cable shares last traded at $9.85, with a volume of 323,516 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Optical Cable in a report on Wednesday. Wall Street Zen lowered Optical Cable from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of "Sell".

Optical Cable Stock Up 8.5%

The company has a market capitalization of $87.37 million, a PE ratio of -70.35 and a beta of 0.52. The firm has a 50-day moving average of $7.03 and a two-hundred day moving average of $4.61.

Optical Cable (NASDAQ:OCC - Get Free Report) last issued its quarterly earnings data on Thursday, September 11th. The communications equipment provider reported $0.04 earnings per share for the quarter. The company had revenue of $19.92 million during the quarter. Optical Cable had a negative return on equity of 5.80% and a negative net margin of 1.55%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Optical Cable stock. Gendell Jeffrey L raised its position in shares of Optical Cable Corporation (NASDAQ:OCC - Free Report) by 51.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 about 0.83% of Optical Cable worth $197,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 13.61% of the company's stock.

About Optical Cable

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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