Optical Cable (NASDAQ:OCC) Issues Quarterly Earnings Results

Optical Cable (NASDAQ:OCC) announced its earnings results on Monday. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, Zacks reports. Optical Cable had a negative return on equity of 4.14% and a negative net margin of 1.01%.

Optical Cable Price Performance

Shares of NASDAQ OCC opened at $12.30 on Monday. Optical Cable has a 12 month low of $2.48 and a 12 month high of $16.22. The company has a market cap of $108.61 million, a P/E ratio of -136.65 and a beta of 0.62. The business’s 50 day moving average is $11.17 and its two-hundred day moving average is $7.94.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optical Cable in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Optical Cable presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in Optical Cable by 8.3% during the first 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. Bridgeway Capital Management LLC grew its holdings in shares of Optical Cable by 162.0% during the 3rd quarter. Bridgeway Capital Management LLC now owns 33,013 shares of the communications equipment provider’s stock worth $268,000 after purchasing an additional 20,413 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Optical Cable during the third quarter valued at approximately $487,000. Citadel Advisors LLC bought a new stake in shares of Optical Cable during the third quarter valued at approximately $102,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Optical Cable by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 268,932 shares of the communications equipment provider’s stock valued at $1,197,000 after purchasing an additional 4,497 shares in the last quarter. 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.