Optical Cable (NASDAQ:OCC) Stock Crosses Above 200-Day Moving Average of $2.77

Optical Cable Co. (NASDAQ:OCC)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.77 and traded as high as $2.94. Optical Cable shares last traded at $2.93, with a volume of 270 shares traded.

Wall Street Analysts Forecast Growth

Separately, TheStreet lowered shares of Optical Cable from a “c” rating to a “d+” rating in a research note on Thursday, March 14th.

Optical Cable Price Performance

The business’s 50-day moving average is $2.86 and its two-hundred day moving average is $2.77. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.31 and a current ratio of 4.73.

Optical Cable (NASDAQ:OCC) last issued its earnings results on Wednesday, March 13th. The communications equipment provider reported ($0.18) EPS for the quarter. The company had revenue of $14.86 million during the quarter. Optical Cable had a negative net margin of 0.24% and a negative return on equity of 6.09%.

Hedge Funds Weigh In On Optical Cable

Several hedge funds and other institutional investors have recently modified their holdings of OCC. Royal Bank of Canada raised its holdings in shares of Optical Cable by 15.4% during the first quarter. Royal Bank of Canada now owns 114,933 shares of the communications equipment provider’s stock valued at $487,000 after buying an additional 15,300 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Optical Cable by 0.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 346,258 shares of the communications equipment provider’s stock worth $1,195,000 after buying an additional 3,047 shares in the last quarter. BlackRock Inc. increased its position in Optical Cable by 115.9% in the 2nd quarter. BlackRock Inc. now owns 31,370 shares of the communications equipment provider’s stock valued at $127,000 after acquiring an additional 16,840 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Optical Cable during the 2nd quarter valued at $73,000. Finally, Envestnet Asset Management Inc. acquired a new position in Optical Cable during the 4th quarter worth $49,000. Institutional investors and hedge funds own 13.61% of the company’s stock.

Optical Cable Company Profile

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.