Optical Cable (NASDAQ:OCC) Stock Price Passes Below 200 Day Moving Average of $4.00

Optical Cable Co. (NASDAQ:OCC) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.00 and traded as low as $3.27. Optical Cable shares last traded at $3.31, with a volume of 6,530 shares.

Optical Cable Stock Down 4.1 %

The company has a quick ratio of 1.79, a current ratio of 3.09 and a debt-to-equity ratio of 0.28. The business has a 50-day simple moving average of $3.64 and a 200-day simple moving average of $4.00. The stock has a market cap of $26.13 million, a P/E ratio of 5.81 and a beta of 0.58.

Institutional Trading of Optical Cable

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OCC. Core Wealth Partners LLC bought a new position in Optical Cable in the 1st quarter valued at $44,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Optical Cable in the second quarter valued at approximately $73,000. BlackRock Inc. grew its position in Optical Cable by 115.9% during the second quarter. BlackRock Inc. now owns 31,370 shares of the communications equipment provider’s stock worth $127,000 after buying an additional 16,840 shares in the last quarter. Royal Bank of Canada lifted its stake in Optical Cable by 15.4% during the first quarter. Royal Bank of Canada now owns 114,933 shares of the communications equipment provider’s stock worth $487,000 after purchasing an additional 15,300 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Optical Cable by 0.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 346,258 shares of the communications equipment provider’s stock valued at $1,195,000 after acquiring an additional 3,047 shares during the last quarter. Institutional investors and hedge funds own 12.78% of the company’s stock.

About Optical Cable

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.