Key Points
- Optical Cable CFO Tracy Smith sold 16,453 shares on July 9 at an average price of $17.23, totaling about $283,485. After the sale, Smith still owned 329,826 shares, worth roughly $5.68 million.
- OCC stock fell 3.7% in Friday trading to $15.81, with volume below its daily average. The company now has a market cap of about $139.6 million.
- The company recently reported improved quarterly results, posting EPS of $0.12 versus a loss of $0.09 a year earlier on revenue of $22.21 million. Despite the improvement, the stock’s consensus analyst rating remains “Sell.”
Optical Cable Corporation (NASDAQ:OCC - Get Free Report) CFO Tracy Smith sold 16,453 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $17.23, for a total value of $283,485.19. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Optical Cable Trading Down 3.7%
Shares of OCC stock traded down $0.60 during mid-day trading on Friday, hitting $15.81. 192,515 shares of the company's stock were exchanged, compared to its average volume of 439,043. The stock has a market cap of $139.60 million, a price-to-earnings ratio of 131.76 and a beta of 0.54. The company has a quick ratio of 0.74, a current ratio of 2.08 and a debt-to-equity ratio of 0.17. Optical Cable Corporation has a fifty-two week low of $4.02 and a fifty-two week high of $27.98. The stock has a 50-day simple moving average of $15.81 and a two-hundred day simple moving average of $9.97.
Optical Cable (NASDAQ:OCC - Get Free Report) last released its earnings results on Monday, June 8th. The communications equipment provider reported $0.12 EPS for the quarter. Optical Cable had a return on equity of 5.92% and a net margin of 1.29%.The firm had revenue of $22.21 million during the quarter. During the same quarter in the previous year, the company posted ($0.09) earnings per share.
Analyst Ratings Changes
OCC has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Optical Cable in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Optical Cable from a "hold" rating to a "buy" rating in a research report on Sunday, July 5th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Optical Cable presently has a consensus rating of "Sell".
Get Our Latest Stock Analysis on Optical Cable
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of OCC. Citadel Advisors LLC purchased a new stake in shares of Optical Cable in the third quarter worth about $102,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Optical Cable in the fourth quarter valued at about $57,000. Shikiar Asset Management Inc. raised its holdings in shares of Optical Cable by 62.9% during the 4th quarter. Shikiar Asset Management Inc. now owns 24,600 shares of the communications equipment provider's stock valued at $109,000 after buying an additional 9,500 shares during the period. Round Rock Advisors LLC purchased a new stake in shares of Optical Cable during the 4th quarter valued at about $139,000. Finally, Bridgeway Capital Management LLC raised 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 valued at $268,000 after buying an additional 20,413 shares during the period. Institutional investors and hedge funds own 13.61% of the company's stock.
Optical Cable Company Profile
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Get Free Report)
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.
Further Reading
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