Applied Optoelectronics, Inc. (NASDAQ:AAOI) Sees Large Drop in Short Interest

Applied Optoelectronics, Inc. (NASDAQ:AAOI) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 9,830,000 shares, a drop of 9.1% from the October 31st total of 10,810,000 shares. Based on an average trading volume of 3,250,000 shares, the short-interest ratio is currently 3.0 days.

Applied Optoelectronics Price Performance

Shares of NASDAQ:AAOI opened at $41.74 on Wednesday. The company has a market capitalization of $1.88 billion, a P/E ratio of -20.26 and a beta of 2.37. The company’s 50-day moving average is $22.55 and its 200 day moving average is $14.55. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61. Applied Optoelectronics has a fifty-two week low of $6.70 and a fifty-two week high of $44.31.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research note on Friday, October 25th. Raymond James boosted their target price on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Northland Securities lifted their price target on Applied Optoelectronics from $18.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. B. Riley decreased their price objective on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, B. Riley Financial reaffirmed a “neutral” rating and set a $9.00 target price on shares of Applied Optoelectronics in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.70.

Insider Transactions at Applied Optoelectronics

In related news, insider David C. Kuo sold 10,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $26.93, for a total value of $269,300.00. Following the completion of the sale, the insider now directly owns 118,122 shares of the company’s stock, valued at $3,181,025.46. The trade was a 7.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Stefan J. Murry sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $31.56, for a total value of $157,800.00. Following the completion of the transaction, the chief financial officer now owns 216,129 shares in the company, valued at approximately $6,821,031.24. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,769 shares of company stock valued at $2,813,037. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co purchased a new position in shares of Applied Optoelectronics during the 1st quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Applied Optoelectronics by 272.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 6,787 shares during the period. Pingora Partners LLC bought a new stake in Applied Optoelectronics during the 3rd quarter valued at $82,000. FMR LLC lifted its position in shares of Applied Optoelectronics by 3,290.6% during the third 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. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Applied Optoelectronics in the second quarter valued at $89,000. 61.72% of the stock is currently 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.