StockNews.com Upgrades Optical Cable (NASDAQ:OCC) to Buy

Optical Cable (NASDAQ:OCC) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Optical Cable Stock Down 1.8 %

Shares of NASDAQ OCC opened at $3.23 on Monday. The company’s 50-day simple moving average is $4.47 and its 200-day simple moving average is $3.28. Optical Cable has a 52-week low of $2.02 and a 52-week high of $7.00. The firm has a market cap of $26.48 million, a price-to-earnings ratio of -5.98 and a beta of 0.31. The company has a quick ratio of 1.74, a current ratio of 4.49 and a debt-to-equity ratio of 0.52.

Optical Cable (NASDAQ:OCC) last announced its earnings results on Monday, March 10th. The communications equipment provider reported ($0.14) earnings per share (EPS) for the quarter. Optical Cable had a negative net margin of 6.31% and a negative return on equity of 19.50%. The company had revenue of $15.74 million during the quarter.

Hedge Funds Weigh In On Optical Cable

A hedge fund recently bought a new stake in Optical Cable stock. Bank of Montreal Can purchased a new position in shares of Optical Cable Co. (NASDAQ:OCC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,000 shares of the communications equipment provider’s stock, valued at approximately $36,000. Bank of Montreal Can owned about 0.12% of Optical Cable at the end of the most recent quarter. 13.61% of the stock is 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.