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

Optical Cable Co. (NASDAQ:OCC)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 changing hands.

Optical Cable Stock Performance

The company has a current ratio of 4.18, a quick ratio of 1.42 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average is $2.37 and its 200-day moving average is $2.61.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Optical Cable stock. Legacy Financial Advisors Inc. raised its holdings in Optical Cable Co. (NASDAQ:OCC) by 27.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 103,625 shares of the communications equipment provider’s stock after acquiring an additional 22,609 shares during the quarter. Legacy Financial Advisors Inc. owned about 1.31% of Optical Cable worth $281,000 as of its most recent SEC filing. Institutional investors own 13.61% of the company’s stock.

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.