Optical Cable (NASDAQ:OCC) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Optical Cable (NASDAQ:OCC) from a buy rating to a hold rating in a research note released on Saturday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Optical Cable in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Optical Cable Stock Up 2.6%

Shares of NASDAQ:OCC opened at $14.78 on Friday. The business’s 50 day moving average is $16.80 and its 200 day moving average is $10.86. The stock has a market cap of $130.51 million, a P/E ratio of 123.18 and a beta of 0.54. Optical Cable has a 52-week low of $4.02 and a 52-week high of $27.98. 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 issued its earnings results on Monday, June 8th. The communications equipment provider reported $0.12 earnings per share for the quarter. Optical Cable had a return on equity of 5.92% and a net margin of 1.29%.The business had revenue of $22.21 million during the quarter. During the same period last year, the firm earned ($0.09) earnings per share.

Insider Activity at Optical Cable

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

Hedge Funds Weigh In On Optical Cable

Institutional investors and hedge funds have recently bought and sold shares of the company. Gendell Jeffrey L increased its position in shares of Optical Cable by 47.4% during the fourth quarter. Gendell Jeffrey L now owns 415,340 shares of the communications equipment provider’s stock worth $1,848,000 after purchasing an additional 133,510 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of Optical Cable in the 1st quarter worth $754,000. Two Sigma Investments LP purchased a new position in Optical Cable during the 3rd quarter worth $487,000. Jane Street Group LLC purchased a new position in Optical Cable during the 4th quarter worth $210,000. Finally, Round Rock Advisors LLC acquired a new position in Optical Cable during the 4th quarter valued at about $139,000. 13.61% of the stock is owned by hedge funds and other 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.