Optical Cable (NASDAQ:OCC) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Optical Cable (NASDAQ:OCC) from a buy rating to a hold rating in a research note released on Saturday.

Optical Cable Trading Up 14.4%

NASDAQ OCC opened at $9.79 on Friday. Optical Cable has a 1-year low of $2.02 and a 1-year high of $10.07. 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 company has a market capitalization of $80.57 million, a PE ratio of -69.92 and a beta of 0.37. The firm’s fifty day simple moving average is $5.69 and its 200-day simple moving average is $3.96.

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

Institutional Investors Weigh In On Optical Cable

A hedge fund recently raised its stake in Optical Cable stock. Gendell Jeffrey L increased its holdings in Optical Cable Corporation (NASDAQ:OCC) by 51.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,952 shares of the communications equipment provider’s stock after purchasing an additional 22,952 shares during the period. Gendell Jeffrey L owned approximately 0.83% of Optical Cable worth $197,000 at the end of the most recent reporting period. 13.61% of the stock is owned by institutional investors and hedge funds.

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.