Weiss Ratings Reaffirms Sell (D-) Rating for Optical Cable (NASDAQ:OCC)

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for Optical Cable (NASDAQ:OCC), indicating a negative outlook on the stock.
• Wall Street Zen has downgraded Optical Cable from a "buy" to a "hold" rating, contributing to the stock's overall average rating of "sell."
• Optical Cable's stock price decreased by 2.0%, with current trading at $7.85 and significant fluctuations indicated by a 52-week low of $2.02 and a high of $11.50.

Optical Cable (NASDAQ:OCC - Get Free Report)'s stock had its "sell (d-)" rating restated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Saturday,Weiss Ratings reports.

Separately, Wall Street Zen cut Optical Cable from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of "Sell".

Optical Cable Stock Down 2.0%

NASDAQ:OCC opened at $7.85 on Friday. The stock's fifty day moving average is $7.86 and its two-hundred day moving average is $5.12. Optical Cable has a 52 week low of $2.02 and a 52 week high of $11.50. The stock has a market capitalization of $69.63 million, a price-to-earnings ratio of -56.07 and a beta of 0.52.

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

Institutional Trading of Optical Cable

Large investors have recently modified their holdings of the stock. Royal Bank of Canada increased its position in shares of 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 worth $348,000 after acquiring an additional 9,535 shares during the period. Shikiar Asset Management Inc. purchased a new position in Optical Cable in the third quarter valued at $123,000. Finally, Gendell Jeffrey L increased its holdings in Optical Cable by 51.0% in the second quarter. Gendell Jeffrey L now owns 67,952 shares of the communications equipment provider's stock valued at $197,000 after buying an additional 22,952 shares during the last quarter. 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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