Optical Cable (NASDAQ:OCC) Shares Cross Above 200-Day Moving Average – Time to Sell?

Optical Cable Corporation (NASDAQ:OCC) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.35 and traded as high as $15.19. Optical Cable shares last traded at $14.73, with a volume of 163,065 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OCC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optical Cable in a research note on Tuesday, April 21st. Wall Street Zen raised Optical Cable from a “hold” rating to a “buy” rating in a research report on Sunday, July 5th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Optical Cable Price Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 2.08. The firm has a fifty day simple moving average of $16.32 and a 200 day simple moving average of $10.35. The company has a market capitalization of $130.07 million, a PE ratio of 122.76 and a beta of 0.54.

Optical Cable (NASDAQ:OCC) last issued its earnings results on Monday, June 8th. The communications equipment provider reported $0.12 earnings per share for the quarter. Optical Cable had a return on equity of 5.92% and a net margin of 1.29%.The business had revenue of $22.21 million during the quarter. During the same quarter in the prior year, the company posted ($0.09) earnings per share.

Insider Transactions at Optical Cable

In other Optical Cable news, CFO Tracy G. Smith sold 16,453 shares of the firm’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $17.23, for a total transaction of $283,485.19. Following the transaction, the chief financial officer owned 329,826 shares of the company’s stock, valued at approximately $5,682,901.98. This trade represents a 4.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Optical Cable

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in 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 buying an additional 9,535 shares during the period. Bridgeway Capital Management LLC raised its position in shares of Optical Cable by 162.0% in the 3rd quarter. Bridgeway Capital Management LLC now owns 33,013 shares of the communications equipment provider’s stock worth $268,000 after acquiring an additional 20,413 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Optical Cable during the 3rd quarter worth $487,000. Citadel Advisors LLC bought a new stake in Optical Cable during the third quarter valued at about $102,000. Finally, Shikiar Asset Management Inc. grew its stake in Optical Cable by 62.9% in the fourth quarter. Shikiar Asset Management Inc. now owns 24,600 shares of the communications equipment provider’s stock valued at $109,000 after purchasing an additional 9,500 shares during the last quarter. 13.61% of the stock is owned by hedge funds and other institutional investors.

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.