Optical Cable (NASDAQ:OCC) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Optical Cable Co. (NASDAQ:OCC) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.61 and traded as low as $2.07. Optical Cable shares last traded at $2.17, with a volume of 10,474 shares.

Optical Cable Stock Performance

The stock has a market cap of $17.59 million, a P/E ratio of -2.82 and a beta of 0.44. The firm has a 50 day moving average of $2.36 and a two-hundred day moving average of $2.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.42 and a current ratio of 4.18.

Optical Cable (NASDAQ:OCC) last posted its quarterly earnings data on Wednesday, September 11th. The communications equipment provider reported ($0.20) earnings per share for the quarter. Optical Cable had a negative net margin of 9.07% and a negative return on equity of 25.06%. The business had revenue of $16.22 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Optical Cable stock. Legacy Financial Advisors Inc. boosted its holdings in shares of Optical Cable Co. (NASDAQ:OCC) by 27.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 about 1.31% of Optical Cable worth $281,000 as of its most recent SEC filing. 13.61% of the stock is currently owned by hedge funds and other 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.