Optical Cable (NASDAQ:OCC) Shares Pass Above 200 Day Moving Average – Time to Sell?

Optical Cable Corporation (NASDAQ:OCC)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.20 and traded as high as $15.50. Optical Cable shares last traded at $14.35, with a volume of 205,769 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on OCC shares. Wall Street Zen cut Optical Cable from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optical Cable in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Optical Cable has an average rating of “Sell”.

Optical Cable Trading Down 3.1%

The stock has a fifty day simple moving average of $17.14 and a 200 day simple moving average of $11.36. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 2.08. The firm has a market cap of $137.92 million, a P/E ratio of 130.18 and a beta of 0.55.

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

Insider Activity

In other news, CFO Tracy G. Smith sold 16,453 shares of Optical Cable stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $17.23, for a total value of $283,485.19. Following the completion of the sale, the chief financial officer directly owned 329,826 shares in the company, valued at $5,682,901.98. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 22.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Optical Cable

Several institutional investors and hedge funds have recently added to or reduced their stakes in OCC. Sei Investments Co. bought a new stake in Optical Cable in the 1st quarter worth approximately $754,000. Shikiar Asset Management Inc. lifted its holdings in shares of Optical Cable by 14.4% during the 1st quarter. Shikiar Asset Management Inc. now owns 28,150 shares of the communications equipment provider’s stock valued at $232,000 after buying an additional 3,550 shares during the period. Bridgeway Capital Management LLC boosted its stake in shares of Optical Cable by 46.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 48,268 shares of the communications equipment provider’s stock worth $215,000 after buying an additional 15,255 shares during the last quarter. Gendell Jeffrey L boosted its stake in shares of Optical Cable by 47.4% in the 4th quarter. Gendell Jeffrey L now owns 415,340 shares of the communications equipment provider’s stock worth $1,848,000 after buying an additional 133,510 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Optical Cable by 37.4% in the 4th quarter. State Street Corp now owns 36,773 shares of the communications equipment provider’s stock worth $164,000 after buying an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 13.61% of the company’s stock.

About Optical Cable

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.