Optical Cable (NASDAQ:OCC) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Optical Cable Co. (NASDAQ:OCC)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.37 and traded as high as $3.37. Optical Cable shares last traded at $3.15, with a volume of 9,347 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Optical Cable in a report on Friday. They issued a “buy” rating on the stock.

Optical Cable Trading Down 4.0%

The firm has a 50-day moving average price of $3.02 and a 200-day moving average price of $3.38. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.74 and a current ratio of 4.49. The stock has a market cap of $25.83 million, a PE ratio of -5.83 and a beta of 0.29.

Optical Cable (NASDAQ:OCC) last released its quarterly earnings data on Monday, March 10th. The communications equipment provider reported ($0.14) EPS for the quarter. The business had revenue of $15.74 million during the quarter. Optical Cable had a negative return on equity of 19.50% and a negative net margin of 6.31%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Optical Cable stock. Royal Bank of Canada increased its holdings in Optical Cable Co. (NASDAQ:OCC) by 8.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,769 shares of the communications equipment provider’s stock after purchasing 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 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.