Optical Cable (NASDAQ:OCC) Shares Cross Above 200 Day Moving Average – Here’s Why

Optical Cable Co. (NASDAQ:OCC)’s stock price 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 Performance

The stock has a market cap of $38.63 million, a price-to-earnings ratio of -6.18 and a beta of 0.31. The company has a quick ratio of 1.42, a current ratio of 4.18 and a debt-to-equity ratio of 0.48. The company has a 50 day simple moving average of $2.80 and a 200 day simple moving average of $2.71.

Optical Cable (NASDAQ:OCC) last issued its quarterly earnings data on Monday, December 23rd. The communications equipment provider reported $0.05 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

A hedge fund recently raised its stake in Optical Cable stock. Legacy Financial Advisors Inc. boosted its position in 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 firm owned 103,625 shares of the communications equipment provider’s stock after buying an additional 22,609 shares during the period. Legacy Financial Advisors Inc. owned approximately 1.31% of Optical Cable worth $281,000 at the end of the most recent quarter. Hedge funds and other institutional investors 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.