Applied Optoelectronics (NASDAQ:AAOI) Trading 6.1% Higher – What’s Next?

Applied Optoelectronics, Inc. (NASDAQ:AAOI) shares were up 6.1% on Wednesday . The stock traded as high as $34.20 and last traded at $32.00. Approximately 1,444,524 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 2,781,017 shares. The stock had previously closed at $30.15.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research report on Wednesday. B. Riley downgraded Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price on the stock. in a report on Tuesday, December 10th. Raymond James raised their price target on Applied Optoelectronics from $17.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Rosenblatt Securities increased their target price on Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Northland Securities restated an “outperform” rating and issued a $40.00 target price (up from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Applied Optoelectronics presently has a consensus rating of “Hold” and an average price target of $29.20.

Applied Optoelectronics Trading Down 5.6 %

The business’s 50 day simple moving average is $34.83 and its 200-day simple moving average is $20.78. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. The stock has a market capitalization of $1.44 billion, a P/E ratio of -14.90 and a beta of 2.39.

Insider Buying and Selling

In other news, Director Richard B. Black sold 10,000 shares of Applied Optoelectronics stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the transaction, the director now directly owns 157,813 shares of the company’s stock, valued at $4,576,577. This trade represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stefan J. Murry sold 2,298 shares of Applied Optoelectronics stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $35.17, for a total value of $80,820.66. Following the transaction, the chief financial officer now owns 209,831 shares in the company, valued at approximately $7,379,756.27. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,067 shares of company stock valued at $3,513,238 over the last three months. Company insiders own 5.40% of the company’s stock.

Institutional Trading of Applied Optoelectronics

Large investors have recently bought and sold shares of the business. Pingora Partners LLC acquired a new position in shares of Applied Optoelectronics in the third quarter valued at approximately $82,000. FMR LLC boosted its stake in Applied Optoelectronics by 3,290.6% in the 3rd quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 5,956 shares during the period. Point72 Hong Kong Ltd bought a new position in Applied Optoelectronics during the 2nd quarter worth about $89,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Applied Optoelectronics in the 3rd quarter valued at about $186,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Applied Optoelectronics in the second quarter valued at about $118,000. 61.72% of the stock is owned by institutional investors.

Applied Optoelectronics Company Profile

Applied Optoelectronics, Inc designs, manufactures, and sells fiber-optic networking products in the United States, Taiwan, and China. It offers optical modules, optical filters, lasers, laser components, subassemblies, transmitters and transceivers, turn-key equipment, headend, node, distribution equipment, and amplifiers.