Optical Cable (NASDAQ:OCC) Upgraded at Wall Street Zen

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

Other research analysts also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optical Cable in a research note on Friday, July 17th. Zacks Research upgraded shares of Optical Cable to a “hold” rating in a research note on Wednesday, August 26th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Optical Cable Price Performance

Optical Cable stock opened at $13.42 on Friday. The stock’s fifty day moving average price is $15.73 and its two-hundred day moving average price is $12.65. Optical Cable has a one year low of $4.02 and a one year high of $27.98. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.08 and a quick ratio of 0.74. The firm has a market cap of $118.46 million, a PE ratio of 111.84 and a beta of 0.55.

Optical Cable (NASDAQ:OCC) last announced its quarterly earnings data on Monday, June 8th. The communications equipment provider reported $0.12 earnings per share for the quarter. The firm had revenue of $22.21 million during the quarter. Optical Cable had a return on equity of 5.92% and a net margin of 1.29%.During the same period in the prior year, the firm earned ($0.09) earnings per share. As a group, research analysts expect that Optical Cable will post 0.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Optical Cable news, CFO Tracy G. Smith sold 16,453 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $17.23, for a total value of $283,485.19. Following the sale, the chief financial officer owned 329,826 shares of the company’s stock, valued at approximately $5,682,901.98. This trade represents a 4.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Optical Cable

A number of institutional investors have recently modified their holdings of OCC. Dynamic Technology Lab Private Ltd bought a new stake in shares of Optical Cable during the 4th quarter worth $57,000. Citadel Advisors LLC bought a new position in Optical Cable in the third quarter valued at about $102,000. State Street Corp raised its stake in Optical Cable by 37.4% during the fourth quarter. State Street Corp now owns 36,773 shares of the communications equipment provider’s stock worth $164,000 after acquiring an additional 10,000 shares in the last quarter. Jane Street Group LLC acquired a new position in Optical Cable during the fourth quarter worth about $210,000. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Optical Cable by 46.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 48,268 shares of the communications equipment provider’s stock worth $215,000 after acquiring an additional 15,255 shares during the last quarter. Institutional investors and hedge funds own 13.61% of the company’s stock.

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.