Optical Cable (NASDAQ:OCC) Posts Quarterly Earnings Results

Optical Cable (NASDAQ:OCC) announced its earnings results on Monday. The communications equipment provider reported $0.12 earnings per share for the quarter, Zacks reports. Optical Cable had a negative return on equity of 4.14% and a negative net margin of 1.01%.

Optical Cable Price Performance

Shares of OCC stock opened at $12.30 on Monday. The company has a market cap of $108.61 million, a price-to-earnings ratio of -136.65 and a beta of 0.62. The stock has a 50 day simple moving average of $11.17 and a 200-day simple moving average of $7.94. Optical Cable has a 1-year low of $2.48 and a 1-year high of $16.22.

Institutional Trading of Optical Cable

Several large investors have recently made changes to their positions in OCC. Royal Bank of Canada increased its position in shares of Optical Cable by 8.3% during the first quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider’s stock worth $348,000 after purchasing an additional 9,535 shares in the last quarter. Bridgeway Capital Management LLC increased its position in shares of Optical Cable by 162.0% during the third quarter. Bridgeway Capital Management LLC now owns 33,013 shares of the communications equipment provider’s stock worth $268,000 after purchasing an additional 20,413 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Optical Cable during the third quarter worth approximately $487,000. Citadel Advisors LLC purchased a new stake in shares of Optical Cable during the third quarter worth approximately $102,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Optical Cable by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 268,932 shares of the communications equipment provider’s stock worth $1,197,000 after purchasing an additional 4,497 shares in the last quarter. 13.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optical Cable in a research note on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

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.