Optical Cable (NASDAQ:OCC) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Optical Cable Co. (NASDAQ:OCC) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.71 and traded as high as $4.83. Optical Cable shares last traded at $4.70, with a volume of 48,503 shares trading hands.

Optical Cable Stock Down 2.1 %

The firm has a market cap of $38.63 million, a P/E ratio of -6.18 and a beta of 0.31. The firm’s fifty day moving average is $2.80 and its 200 day moving average is $2.71. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.42 and a current ratio of 4.18.

Optical Cable (NASDAQ:OCC) last announced its earnings results on Monday, December 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter. Optical Cable had a negative return on equity of 25.06% and a negative net margin of 9.07%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Optical Cable stock. Legacy Financial Advisors Inc. increased its position in shares of Optical Cable Co. (NASDAQ:OCC) by 27.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,625 shares of the communications equipment provider’s stock after acquiring an additional 22,609 shares during the period. Legacy Financial Advisors Inc. owned about 1.31% of Optical Cable worth $281,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 13.61% of the company’s stock.

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.