Optical Cable (NASDAQ:OCC) CFO Tracy Smith Sells 16,453 Shares

Optical Cable Corporation (NASDAQ:OCC) CFO Tracy Smith sold 16,453 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $17.23, for a total value of $283,485.19. Following the sale, the chief financial officer directly owned 329,826 shares in the company, valued at $5,682,901.98. This trade represents a 4.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Optical Cable Price Performance

NASDAQ OCC traded down $0.60 during mid-day trading on Friday, hitting $15.81. The stock had a trading volume of 192,515 shares, compared to its average volume of 439,043. Optical Cable Corporation has a 52-week low of $4.02 and a 52-week high of $27.98. The company has a market cap of $139.60 million, a price-to-earnings ratio of 131.76 and a beta of 0.54. The company has a 50 day simple moving average of $15.81 and a 200 day simple moving average of $9.97. The company has a quick ratio of 0.74, a current ratio of 2.08 and a debt-to-equity ratio of 0.17.

Optical Cable (NASDAQ:OCC) last posted its earnings results on Monday, June 8th. The communications equipment provider reported $0.12 EPS for the quarter. The company had revenue of $22.21 million for the quarter. Optical Cable had a return on equity of 5.92% and a net margin of 1.29%.During the same quarter in the previous year, the firm posted ($0.09) earnings per share.

Wall Street Analyst Weigh In

OCC has been the topic of several recent research reports. Wall Street Zen upgraded shares of Optical Cable from a “hold” rating to a “buy” rating in a research report on Sunday, July 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Optical Cable in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Optical Cable during the 4th quarter worth about $57,000. Citadel Advisors LLC purchased a new stake in shares of Optical Cable during the third quarter worth about $102,000. Shikiar Asset Management Inc. raised its position in shares of Optical Cable by 62.9% in the fourth quarter. Shikiar Asset Management Inc. now owns 24,600 shares of the communications equipment provider’s stock valued at $109,000 after buying an additional 9,500 shares during the last quarter. Round Rock Advisors LLC acquired a new position in shares of Optical Cable in the fourth quarter valued at approximately $139,000. Finally, State Street Corp lifted its stake in shares of Optical Cable by 37.4% during the fourth quarter. State Street Corp now owns 36,773 shares of the communications equipment provider’s stock valued at $164,000 after buying an additional 10,000 shares during the period. Institutional investors and hedge funds 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.