Optical Cable (NASDAQ:OCC) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Optical Cable Co. (NASDAQ:OCC) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.30 and traded as high as $3.67. Optical Cable shares last traded at $3.35, with a volume of 35,779 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Optical Cable from a “hold” rating to a “buy” rating in a report on Monday, March 17th.

Optical Cable Stock Down 6.7 %

The company has a market capitalization of $27.47 million, a P/E ratio of -6.20 and a beta of 0.31. The company has a current ratio of 4.49, a quick ratio of 1.74 and a debt-to-equity ratio of 0.52. The stock’s fifty day moving average is $4.36 and its 200 day moving average is $3.30.

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

Hedge Funds Weigh In On Optical Cable

A hedge fund recently bought a new stake in Optical Cable stock. Bank of Montreal Can purchased a new stake in shares of Optical Cable Co. (NASDAQ:OCC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,000 shares of the communications equipment provider’s stock, valued at approximately $36,000. Bank of Montreal Can owned about 0.12% of Optical Cable as of its most recent SEC filing. 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.