Applied Optoelectronics (NASDAQ:AAOI) Stock Price Down 5% – Here’s What Happened

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) were down 5% during trading on Wednesday . The stock traded as low as $26.45 and last traded at $26.46. Approximately 534,126 shares changed hands during trading, a decline of 81% from the average daily volume of 2,855,604 shares. The stock had previously closed at $27.85.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a research report on Friday, January 31st. Rosenblatt Securities lifted 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. Raymond James increased their price objective on Applied Optoelectronics from $17.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Northland Securities reissued an “outperform” rating and issued a $40.00 price objective (up previously from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. Finally, 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. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $29.20.

Applied Optoelectronics Trading Down 4.0 %

The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. The stock has a 50-day simple moving average of $32.87 and a 200 day simple moving average of $22.62. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -13.04 and a beta of 2.36.

Insider Buying and Selling

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 2,298 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 209,831 shares of the company’s stock, valued at approximately $7,379,756.27. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard B. Black sold 10,000 shares of Applied Optoelectronics stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $29.00, for a total value of $290,000.00. Following the transaction, the director now owns 157,813 shares of the company’s stock, valued at $4,576,577. The trade was a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,067 shares of company stock valued at $3,243,938 over the last quarter. 5.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Applied Optoelectronics

Several hedge funds have recently bought and sold shares of AAOI. The Manufacturers Life Insurance Company acquired a new position in shares of Applied Optoelectronics in the 2nd quarter valued at $118,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Applied Optoelectronics in the third quarter worth about $303,000. Rice Hall James & Associates LLC grew its position in shares of Applied Optoelectronics by 75.8% during the 3rd quarter. Rice Hall James & Associates LLC now owns 235,763 shares of the semiconductor company’s stock valued at $3,374,000 after acquiring an additional 101,640 shares during the period. Emerald Mutual Fund Advisers Trust grew its position in shares of Applied Optoelectronics by 2.8% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 410,154 shares of the semiconductor company’s stock valued at $5,869,000 after acquiring an additional 11,037 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Applied Optoelectronics in the 3rd quarter valued at about $1,319,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

About Applied Optoelectronics

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.