Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Down Following Insider Selling

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) gapped down prior to trading on Thursday following insider selling activity. The stock had previously closed at $33.30, but opened at $32.24. Applied Optoelectronics shares last traded at $32.53, with a volume of 263,087 shares trading hands.

Specifically, CFO Stefan J. Murry sold 2,298 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $35.17, for a total value of $80,820.66. Following the transaction, the chief financial officer now directly owns 209,831 shares of the company’s stock, valued at $7,379,756.27. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stefan J. Murry sold 4,000 shares of Applied Optoelectronics stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $31.72, for a total transaction of $126,880.00. Following the sale, the chief financial officer now directly owns 212,129 shares in the company, valued at approximately $6,728,731.88. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. In related news, Director Richard B. Black sold 10,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 157,813 shares of the company’s stock, valued at approximately $4,576,577. This trade represents a 5.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

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

Applied Optoelectronics Stock Down 5.6 %

The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $34.91 and a 200 day moving average of $20.93.

Institutional Trading of Applied Optoelectronics

A number of institutional investors and hedge funds have recently modified their holdings of AAOI. Pingora Partners LLC acquired a new position in shares of Applied Optoelectronics during the third quarter valued at $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 purchased a new stake in Applied Optoelectronics in the 2nd quarter worth about $89,000. The Manufacturers Life Insurance Company purchased a new position in Applied Optoelectronics during the second quarter valued at approximately $118,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Applied Optoelectronics in the third quarter worth $186,000. 61.72% of the stock is owned by institutional investors and hedge funds.

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.