Optical Cable (NASDAQ:OCC) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Optical Cable Co. (NASDAQ:OCC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.30 and traded as high as $3.67. Optical Cable shares last traded at $3.35, with a volume of 35,779 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com raised Optical Cable from a “hold” rating to a “buy” rating in a research note on Monday, March 17th.

Optical Cable Price Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.74 and a current ratio of 4.49. The company has a 50-day simple moving average of $4.34 and a 200-day simple moving average of $3.30. The company has a market cap of $25.58 million, a price-to-earnings ratio of -5.78 and a beta of 0.31.

Optical Cable (NASDAQ:OCC) last released its quarterly earnings results on Monday, March 10th. The communications equipment provider reported ($0.14) EPS for the quarter. Optical Cable had a negative net margin of 6.31% and a negative return on equity of 19.50%. The business had revenue of $15.74 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Optical Cable stock. Bank of Montreal Can acquired a new position in Optical Cable Co. (NASDAQ:OCC) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,000 shares of the communications equipment provider’s stock, valued at approximately $36,000. Bank of Montreal Can owned 0.12% of Optical Cable as of its most recent SEC filing. 13.61% of the stock is owned by hedge funds and other institutional investors.

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.