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

Optical Cable Co. (NASDAQ:OCC) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.75 and traded as low as $2.43. Optical Cable shares last traded at $2.43, with a volume of 4,222 shares.

Optical Cable Price Performance

The stock’s fifty day moving average is $2.68 and its 200-day moving average is $2.75. The stock has a market capitalization of $19.18 million, a PE ratio of -4.42 and a beta of 0.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.18 and a quick ratio of 1.42.

Optical Cable (NASDAQ:OCC) last announced its quarterly earnings results on Wednesday, September 11th. The communications equipment provider reported ($0.20) earnings per share (EPS) for the quarter. Optical Cable had a negative return on equity of 25.06% and a negative net margin of 9.07%. The firm had revenue of $16.22 million for the quarter.

Hedge Funds Weigh In On Optical Cable

An institutional investor recently raised its position in Optical Cable stock. Legacy Financial Advisors Inc. raised its stake in shares of Optical Cable Co. (NASDAQ:OCC) by 27.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,625 shares of the communications equipment provider’s stock after purchasing an additional 22,609 shares during the period. Legacy Financial Advisors Inc. owned 1.31% of Optical Cable worth $281,000 at the end of the most recent quarter. 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.