Optical Cable (NASDAQ:OCC) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Optical Cable Co. (NASDAQ:OCC)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.63 and traded as high as $4.38. Optical Cable shares last traded at $4.35, with a volume of 350,484 shares trading hands.

Optical Cable Stock Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 4.18 and a quick ratio of 1.42. The stock has a market cap of $35.76 million, a P/E ratio of -5.72 and a beta of 0.44. The stock has a 50-day simple moving average of $2.52 and a 200-day simple moving average of $2.63.

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

Hedge Funds Weigh In On Optical Cable

An institutional investor recently raised its position in Optical Cable stock. Legacy Financial Advisors Inc. grew its holdings in shares of Optical Cable Co. (NASDAQ:OCC) by 27.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund 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 SEC filing. Hedge funds and other institutional investors own 13.61% 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.