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

Key Points

• Weiss Ratings has reiterated a "Sell (D-)" rating for Optical Cable (NASDAQ:OCC), indicating a negative outlook for the stock.
• Wall Street Zen downgraded Optical Cable from a "buy" to a "hold" rating following their recent review.
• The company's stock has experienced a recent increase of 8.5%, opening at $9.85 with a market cap of $87.37 million.

Optical Cable (NASDAQ:OCC - Get Free Report)'s stock had its "sell (d-)" rating restated by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

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

Optical Cable Stock Up 8.5%

Optical Cable stock opened at $9.85 on Wednesday. Optical Cable has a 52 week low of $2.02 and a 52 week high of $10.55. The company's 50 day moving average price is $7.03 and its two-hundred day moving average price is $4.61. The stock has a market cap of $87.37 million, a P/E ratio of -70.35 and a beta of 0.52.

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

Institutional Investors Weigh In On Optical Cable

A hedge fund recently raised its stake in Optical Cable stock. Royal Bank of Canada increased its holdings in Optical Cable Corporation (NASDAQ:OCC - Free Report) by 8.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 124,769 shares of the communications equipment provider's stock after buying an additional 9,535 shares during the period. Royal Bank of Canada owned 1.52% of Optical Cable worth $348,000 as of its most recent SEC filing. 13.61% of the stock is currently owned by hedge funds and other institutional investors.

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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