Optical Cable (NASDAQ:OCC) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Optical Cable Corporation (NASDAQ:OCC)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.30 and traded as high as $11.87. Optical Cable shares last traded at $11.22, with a volume of 264,529 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Optical Cable in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Optical Cable presently has an average rating of “Sell”.

Optical Cable Stock Down 1.2%

The stock has a market cap of $99.07 million, a PE ratio of -124.65 and a beta of 0.53. The business’s fifty day moving average is $9.22 and its 200 day moving average is $7.30.

Optical Cable (NASDAQ:OCC) last released its quarterly earnings data on Tuesday, March 10th. The communications equipment provider reported ($0.05) EPS for the quarter. The company had revenue of $16.43 million for the quarter. Optical Cable had a negative return on equity of 4.14% and a negative net margin of 1.01%.

Institutional Trading of Optical Cable

A number of institutional investors have recently added to or reduced their stakes in OCC. Royal Bank of Canada boosted its holdings in Optical Cable by 8.3% during the first quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider’s stock worth $348,000 after buying an additional 9,535 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in Optical Cable during the third quarter worth about $135,000. Bridgeway Capital Management LLC lifted its holdings in shares of Optical Cable by 162.0% in the third quarter. Bridgeway Capital Management LLC now owns 33,013 shares of the communications equipment provider’s stock valued at $268,000 after purchasing an additional 20,413 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Optical Cable in the third quarter valued at about $487,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Optical Cable in the third quarter valued at about $102,000. Hedge funds and other institutional investors own 13.61% of the company’s stock.

Optical Cable Company Profile

Optical Cable Corporation (NASDAQ: OCC) is a publicly traded designer and manufacturer of optical fiber and copper communications cable solutions. Headquartered in Roanoke, Virginia, the company develops a broad range of standard and custom cable assemblies, connectors, hardware and accessories. Its product portfolio addresses data transmission requirements in demanding environments, including long-haul telecommunications, industrial automation, defense systems and submersible applications.

The company’s offerings are organized across multiple product lines, encompassing outside-plant fiber optic cable for aerial and underground installations, indoor/outdoor copper connectivity and specialty engineered cable assemblies.