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

Optical Cable Corporation (NASDAQ:OCC) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.85 and traded as high as $6.50. Optical Cable shares last traded at $6.34, with a volume of 14,146 shares traded.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Optical Cable to a “buy” rating in a research report on Saturday, August 9th.

Optical Cable Trading Down 0.9%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.67 and a current ratio of 1.89. The company has a 50 day simple moving average of $5.29 and a two-hundred day simple moving average of $3.85. The firm has a market cap of $52.18 million, a PE ratio of -16.68 and a beta of 0.37.

Optical Cable (NASDAQ:OCC) last posted its quarterly earnings results on Thursday, June 5th. The communications equipment provider reported ($0.09) earnings per share for the quarter. The firm had revenue of $17.55 million for the quarter. Optical Cable had a negative net margin of 4.33% and a negative return on equity of 14.94%.

Institutional Trading of Optical Cable

An institutional investor recently raised its position in Optical Cable stock. Gendell Jeffrey L raised its position in shares of Optical Cable Corporation (NASDAQ:OCC) by 51.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,952 shares of the communications equipment provider’s stock after purchasing an additional 22,952 shares during the quarter. Gendell Jeffrey L owned 0.83% of Optical Cable worth $197,000 at the end of the most recent reporting period. Institutional investors 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.