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

Optical Cable Co. (NASDAQ:OCC) passed 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 raised shares of Optical Cable from a “hold” rating to a “buy” rating in a research note on Monday, March 17th.

Optical Cable Price Performance

The company’s 50-day moving average price is $4.34 and its 200-day moving average price is $3.30. The firm has a market cap of $25.58 million, a price-to-earnings ratio of -5.78 and a beta of 0.31. The company has a quick ratio of 1.74, a current ratio of 4.49 and a debt-to-equity ratio of 0.52.

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

Institutional Investors Weigh In On Optical Cable

An institutional investor recently bought a new position in Optical Cable stock. Bank of Montreal Can purchased a new stake in Optical Cable Co. (NASDAQ:OCC) in the 4th quarter, according to the company in its most recent filing with the SEC. 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 at the end of the most recent reporting period. Institutional investors and hedge funds 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.