Optical Cable (NASDAQ:OCC) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Optical Cable Co. (NASDAQ:OCC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.30 and traded as high as $3.67. Optical Cable shares last traded at $3.35, with a volume of 35,779 shares.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Optical Cable from a “hold” rating to a “buy” rating in a research report on Monday, March 17th.

Optical Cable Price Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.74 and a current ratio of 4.49. The stock has a market capitalization of $27.47 million, a P/E ratio of -6.20 and a beta of 0.31. The business has a fifty day simple moving average of $4.36 and a 200-day simple moving average of $3.30.

Optical Cable (NASDAQ:OCC) last announced its earnings results on Monday, March 10th. The communications equipment provider reported ($0.14) earnings per share (EPS) for the quarter. Optical Cable had a negative net margin of 6.31% and a negative return on equity of 19.50%. The company had revenue of $15.74 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Optical Cable stock. Bank of Montreal Can purchased a new stake in Optical Cable Co. (NASDAQ:OCC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,000 shares of the communications equipment provider’s stock, valued at approximately $36,000. Bank of Montreal Can owned 0.12% of Optical Cable at the end of the most recent reporting period. 13.61% of the stock is owned by institutional investors.

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.