Optical Cable (NASDAQ:OCC) Stock Rating Lowered by Wall Street Zen

Optical Cable (NASDAQ:OCC) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Optical Cable Stock Performance

Optical Cable stock opened at $9.79 on Friday. The stock has a market cap of $80.57 million, a P/E ratio of -69.92 and a beta of 0.37. The company has a current ratio of 1.89, a quick ratio of 0.67 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $5.69 and a 200-day moving average of $3.96. Optical Cable has a 52 week low of $2.02 and a 52 week high of $10.07.

Optical Cable (NASDAQ:OCC) last released its earnings results on Thursday, September 11th. The communications equipment provider reported $0.04 EPS for the quarter. The company had revenue of $19.92 million during the quarter. Optical Cable had a negative return on equity of 5.68% and a negative net margin of 1.55%.

Institutional Investors Weigh In On Optical Cable

A hedge fund recently raised its stake in Optical Cable stock. Royal Bank of Canada lifted its position in shares of Optical Cable Corporation (NASDAQ:OCC) by 8.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,769 shares of the communications equipment provider’s stock after acquiring an additional 9,535 shares during the period. Royal Bank of Canada owned about 1.52% of Optical Cable worth $348,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 13.61% of the company’s stock.

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.