The stock of Optical Cable Corporation (NASDAQ:OCC) hit a new 52-week high and has $8.61 target or 157.00% above today’s $3.35 share price. The 8 months bullish chart indicates low risk for the $25.10 million company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $8.61 price target is reached, the company will be worth $39.41 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 55,776 shares traded hands or 805.60% up from the average. Optical Cable Corporation (NASDAQ:OCC) has risen 28.96% since March 16, 2016 and is uptrending. It has outperformed by 23.42% the S&P500.
According to Zacks Investment Research, “Optical Cable Corporation is a leading manufacturer of fiber optic cables primarily sold into the enterprise market, and the premier manufacturer of military ground tactical fiber optic cable for the U.S. military. Optical Cable Corporation pioneered the design and production of fiber optic cables for the most demanding military field applications, as well as fiber optic cables suitable for both indoor and outdoor use. The Company’s current broad product offering is built on the evolution of these fundamental technologies, and is designed to provide end-users with fiber optic cables that are easy and economical to install, provide a high degree of reliability and offer outstanding performance characteristics. Optical Cable Corporation sells its products worldwide for uses ranging from commercial and campus installations to customized products for specialty applications and harsh environments, including military applications.”
More important recent Optical Cable Corporation (NASDAQ:OCC) news were published by: Prnewswire.com which released: “Optical Cable Corporation Receives Notice of Allowance for Patent Application …” on March 14, 2016, also Twst.com published article titled: “Optical Cable Corporation: Optical Cable Corporation Schedules Conference Call …”, Seekingalpha.com published: “Optical Cable’s (OCC) CEO Neil Wilkin on Q2 2016 Results – Earnings Call …” on June 07, 2016. More interesting news about Optical Cable Corporation (NASDAQ:OCC) was released by: Seekingalpha.com and their article: “Optical Cable’s (OCC) CEO Neil Wilkin on Q3 2016 Results – Earnings Call …” with publication date: September 13, 2016.
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