Optical Cable (NASDAQ:OCC) Announces Quarterly Earnings Results

Optical Cable (NASDAQ:OCC) posted its quarterly earnings data on Thursday. The communications equipment provider reported $0.01 EPS for the quarter, Zacks reports. Optical Cable had a negative return on equity of 5.80% and a negative net margin of 1.55%.During the same period in the prior year, the company earned $0.05 EPS.

Optical Cable Stock Performance

NASDAQ:OCC traded down $2.85 during trading hours on Thursday, reaching $5.53. The stock had a trading volume of 201,035 shares, compared to its average volume of 117,372. The company has a 50 day moving average price of $8.17 and a two-hundred day moving average price of $6.46. Optical Cable has a 52 week low of $2.08 and a 52 week high of $11.50. The stock has a market capitalization of $49.05 million, a PE ratio of -39.43 and a beta of 0.52.

Institutional Trading of Optical Cable

Several institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in Optical Cable by 8.3% during the 1st quarter. Royal Bank of Canada now owns 124,769 shares of the communications equipment provider’s stock valued at $348,000 after acquiring an additional 9,535 shares during the period. Citadel Advisors LLC purchased a new position in Optical Cable in the 3rd quarter worth about $102,000. Bridgeway Capital Management LLC boosted its position in Optical Cable by 162.0% in the 3rd quarter. Bridgeway Capital Management LLC now owns 33,013 shares of the communications equipment provider’s stock valued at $268,000 after buying an additional 20,413 shares during the period. Finally, Two Sigma Investments LP bought a new position in Optical Cable in the third quarter worth approximately $487,000. Institutional investors own 13.61% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on OCC shares. Wall Street Zen downgraded shares of Optical Cable from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Optical Cable in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

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.