Optical Cable (NASDAQ:OCC) Shares Cross Below 200 Day Moving Average – What’s Next?

Shares of Optical Cable Corporation (NASDAQ:OCC) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.57 and traded as low as $4.38. Optical Cable shares last traded at $4.45, with a volume of 54,835 shares.

Analysts Set New Price Targets

OCC has been the topic of a number of analyst reports. Wall Street Zen lowered Optical Cable from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Optical Cable in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Optical Cable Stock Down 2.0%

The company has a market capitalization of $39.47 million, a price-to-earnings ratio of -24.72 and a beta of 0.59. The stock has a 50 day simple moving average of $7.20 and a 200 day simple moving average of $6.57.

Optical Cable (NASDAQ:OCC) last released its quarterly earnings data on Thursday, December 18th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter. Optical Cable had a negative return on equity of 7.90% and a negative net margin of 1.99%.The business had revenue of $19.83 million during the quarter. During the same quarter in the prior year, the firm earned $0.05 EPS.

Institutional Trading of Optical Cable

Several hedge funds have recently bought and sold shares of OCC. Citadel Advisors LLC bought a new position in Optical Cable in the 3rd quarter worth about $102,000. Shikiar Asset Management Inc. acquired a new position in Optical Cable during the 3rd quarter worth $123,000. Essex Investment Management Co. LLC bought a new position in shares of Optical Cable in the third quarter worth $135,000. Gendell Jeffrey L grew its position in Optical Cable by 51.0% in the 2nd quarter. Gendell Jeffrey L now owns 67,952 shares of the communications equipment provider’s stock valued at $197,000 after buying an additional 22,952 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in shares of Optical Cable by 162.0% during the third quarter. Bridgeway Capital Management LLC now owns 33,013 shares of the communications equipment provider’s stock valued at $268,000 after acquiring an additional 20,413 shares during the period. 13.61% of the stock is currently owned by institutional investors.

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.