Optical Cable (NASDAQ:OCC) Announces Earnings Results, Beats Estimates By $0.01 EPS

Optical Cable (NASDAQ:OCC) announced its quarterly earnings data on Wednesday. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01, Zacks reports. Optical Cable had a net margin of 1.29% and a return on equity of 5.92%.

Optical Cable Price Performance

OCC stock opened at $13.70 on Wednesday. Optical Cable has a 12-month low of $4.02 and a 12-month high of $27.98. The company has a market cap of $120.97 million, a price-to-earnings ratio of 114.18 and a beta of 0.57. The firm has a 50 day moving average of $15.02 and a 200-day moving average of $12.97. The company has a current ratio of 2.08, a quick ratio of 0.74 and a debt-to-equity ratio of 0.17.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OCC. Zacks Research raised shares of Optical Cable to a “hold” rating in a report on Wednesday, August 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Optical Cable in a report on Friday, July 17th. Finally, Wall Street Zen upgraded Optical Cable from a “hold” rating to a “buy” rating in a research report on Saturday, August 29th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce”.

Insider Activity

In other news, CFO Tracy G. Smith sold 16,453 shares of Optical Cable stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $17.23, for a total transaction of $283,485.19. Following the completion of the sale, the chief financial officer directly owned 329,826 shares in the company, valued at $5,682,901.98. The trade was a 4.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Optical Cable

Institutional investors have recently bought and sold shares of the stock. Gendell Jeffrey L grew its stake in shares of Optical Cable by 47.4% during the 4th quarter. Gendell Jeffrey L now owns 415,340 shares of the communications equipment provider’s stock valued at $1,848,000 after buying an additional 133,510 shares during the period. Two Sigma Investments LP purchased a new stake in shares of Optical Cable during the third quarter worth about $487,000. Jane Street Group LLC acquired a new position in shares of Optical Cable in the 4th quarter valued at approximately $210,000. Bridgeway Capital Management LLC grew its position in shares of Optical Cable by 162.0% during the third quarter. Bridgeway Capital Management LLC now owns 33,013 shares of the communications equipment provider’s stock worth $268,000 after buying an additional 20,413 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Optical Cable during the fourth quarter worth about $57,000. 13.61% of the stock is currently owned by hedge funds and other institutional investors.

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.