Optical Cable (NASDAQ:OCC) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Optical Cable (NASDAQ:OCC) from a buy rating to a hold rating in a research note issued to investors on Friday.

Optical Cable Stock Down 3.4 %

Shares of NASDAQ OCC opened at $4.25 on Friday. The company has a market cap of $34.94 million, a price-to-earnings ratio of -7.87 and a beta of 0.34. The firm’s fifty day moving average is $4.36 and its 200 day moving average is $3.17. Optical Cable has a 52 week low of $2.02 and a 52 week high of $7.00. The company has a quick ratio of 1.74, a current ratio of 4.49 and a debt-to-equity ratio of 0.52.

Optical Cable (NASDAQ:OCC) last released its quarterly earnings results on Monday, December 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter. Optical Cable had a negative net margin of 6.31% and a negative return on equity of 19.50%.

Hedge Funds Weigh In On Optical Cable

An institutional investor recently bought a new position in Optical Cable stock. Bank of Montreal Can purchased a new position in Optical Cable Co. (NASDAQ:OCC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,000 shares of the communications equipment provider’s stock, valued at approximately $36,000. Bank of Montreal Can owned approximately 0.12% of Optical Cable at the end of the most recent reporting period. 13.61% of the stock is owned by institutional investors.

Optical Cable Company Profile

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.