Optical Cable (NASDAQ:OCC) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Optical Cable Corporation (NASDAQ:OCC) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.02 and traded as high as $9.23. Optical Cable shares last traded at $9.11, with a volume of 67,042 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Optical Cable in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Optical Cable currently has a consensus rating of “Sell”.

Optical Cable Stock Performance

The business has a fifty day moving average of $6.65 and a two-hundred day moving average of $7.02. The firm has a market capitalization of $80.44 million, a price-to-earnings ratio of -101.21 and a beta of 0.35.

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 Inflows and Outflows

Several large investors have recently bought and sold shares of OCC. Citadel Advisors LLC bought a new stake in shares of Optical Cable during the third quarter worth approximately $102,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Optical Cable during the fourth quarter worth approximately $57,000. Shikiar Asset Management Inc. acquired a new stake in Optical Cable during the 3rd quarter worth approximately $123,000. Essex Investment Management Co. LLC acquired a new stake in Optical Cable during the 3rd quarter worth approximately $135,000. Finally, Round Rock Advisors LLC bought a new stake in Optical Cable in the 4th quarter valued at $139,000. 13.61% of the stock is owned by institutional investors.

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.