Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Down – Here’s What Happened

Applied Optoelectronics, Inc. (NASDAQ:AAOI) gapped down before the market opened on Thursday . 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 changing hands.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AAOI shares. StockNews.com raised Applied Optoelectronics to a “sell” rating in a research report on Wednesday. Raymond James raised their target price on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Northland Securities reiterated an “outperform” rating and set a $40.00 price objective (up from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday, December 18th. Rosenblatt Securities boosted their price objective on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, B. Riley cut 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 research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $29.20.

Applied Optoelectronics Stock Down 2.3 %

The company’s fifty day simple moving average is $34.75 and its 200-day simple moving average is $20.69. The firm has a market capitalization of $1.52 billion, a PE ratio of -15.79 and a beta of 2.39. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06.

Insider Activity at Applied Optoelectronics

In related news, insider David C. Kuo sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $26.93, for a total value of $269,300.00. Following the sale, the insider now owns 118,122 shares in the company, valued at $3,181,025.46. This represents a 7.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $30.35, for a total transaction of $616,803.05. Following the transaction, the insider now directly owns 195,572 shares of the company’s stock, valued at $5,935,610.20. This represents a 9.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,769 shares of company stock valued at $3,432,417 in the last ninety days. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

Several hedge funds have recently added to or reduced their stakes in the business. Pingora Partners LLC purchased a new position in Applied Optoelectronics during the third quarter valued at approximately $82,000. FMR LLC increased its holdings 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 acquiring an additional 5,956 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Applied Optoelectronics during the second quarter worth $89,000. The Manufacturers Life Insurance Company purchased a new position in Applied Optoelectronics during the second quarter valued at $118,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Applied Optoelectronics in the third quarter valued at about $186,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.