Tracy Smith Sells 16,453 Shares of Optical Cable (NASDAQ:OCC) Stock

Optical Cable Corporation (NASDAQ:OCC) CFO Tracy Smith sold 16,453 shares of the company’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $17.23, for a total value of $283,485.19. Following the completion of the transaction, the chief financial officer directly owned 329,826 shares in the company, valued at approximately $5,682,901.98. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Optical Cable Stock Performance

OCC stock traded down $0.60 during trading hours on Friday, hitting $15.81. 192,515 shares of the stock were exchanged, compared to its average volume of 435,405. Optical Cable Corporation has a 12 month low of $4.02 and a 12 month high of $27.98. The company has a current ratio of 2.08, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $139.60 million, a P/E ratio of 131.76 and a beta of 0.54. The company has a 50-day simple moving average of $15.67 and a two-hundred day simple moving average of $9.93.

Optical Cable (NASDAQ:OCC) last announced its earnings results on Monday, June 8th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter. Optical Cable had a net margin of 1.29% and a return on equity of 5.92%. The company had revenue of $22.21 million during the quarter. During the same period in the previous year, the firm posted ($0.09) EPS.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OCC. Weiss Ratings reissued a “sell (d-)” rating on shares of Optical Cable in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of Optical Cable from a “hold” rating to a “buy” rating in a research report on Sunday, July 5th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Optical Cable presently has an average rating of “Sell”.

Institutional Investors Weigh In On Optical Cable

Institutional investors and hedge funds have recently bought and sold shares of the company. Gendell Jeffrey L grew its stake in Optical Cable by 47.4% during the fourth quarter. Gendell Jeffrey L now owns 415,340 shares of the communications equipment provider’s stock worth $1,848,000 after buying an additional 133,510 shares in the last quarter. Sei Investments Co. acquired a new position in shares of Optical Cable in the 1st quarter valued at approximately $754,000. Two Sigma Investments LP bought a new stake in shares of Optical Cable during the 3rd quarter worth approximately $487,000. Jane Street Group LLC bought a new stake in shares of Optical Cable during the 4th quarter worth approximately $210,000. Finally, Round Rock Advisors LLC acquired a new stake in shares of Optical Cable during the 4th quarter worth approximately $139,000. Institutional investors own 13.61% of the company’s stock.

Optical Cable Company Profile

Optical Cable Corporation (NASDAQ: OCC) is a publicly traded designer and manufacturer of optical fiber and copper communications cable solutions. Headquartered in Roanoke, Virginia, the company develops a broad range of standard and custom cable assemblies, connectors, hardware and accessories. Its product portfolio addresses data transmission requirements in demanding environments, including long-haul telecommunications, industrial automation, defense systems and submersible applications.

The company’s offerings are organized across multiple product lines, encompassing outside-plant fiber optic cable for aerial and underground installations, indoor/outdoor copper connectivity and specialty engineered cable assemblies.