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

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI) gapped down prior to trading on Tuesday . The stock had previously closed at $30.52, but opened at $29.29. Applied Optoelectronics shares last traded at $29.56, with a volume of 258,591 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Raymond James raised their price target 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. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research note on Friday, January 31st. Rosenblatt Securities lifted their price target on Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a report on Friday, December 13th. B. Riley downgraded Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price objective for the company. in a research note on Tuesday, December 10th. Finally, Northland Securities reiterated an “outperform” rating and set 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 given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Applied Optoelectronics currently has a consensus rating of “Hold” and an average target price of $29.20.

Applied Optoelectronics Stock Performance

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 $1.33 billion, a P/E ratio of -13.75 and a beta of 2.36. The company has a 50 day simple moving average of $33.15 and a 200-day simple moving average of $22.49.

Insider Buying and Selling at Applied Optoelectronics

In other Applied Optoelectronics news, Director Richard B. Black sold 10,000 shares of Applied Optoelectronics stock in a transaction dated Wednesday, January 15th. The stock was 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 $4,576,577. The trade was a 5.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $30.35, for a total transaction of $616,803.05. Following the completion of the sale, the insider now directly owns 195,572 shares in the company, valued at approximately $5,935,610.20. The trade was a 9.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,067 shares of company stock valued at $3,243,938 over the last three months. 5.40% of the stock is currently owned by insiders.

Institutional Trading of Applied Optoelectronics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pingora Partners LLC purchased a new position in shares of Applied Optoelectronics during the 3rd quarter valued at $82,000. FMR LLC grew its position in 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 buying an additional 5,956 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Applied Optoelectronics in the 2nd quarter worth about $118,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Applied Optoelectronics in the 3rd quarter valued at about $186,000. Finally, Truvestments Capital LLC boosted its position in shares of Applied Optoelectronics by 24.3% during the 3rd quarter. Truvestments Capital LLC now owns 15,862 shares of the semiconductor company’s stock valued at $227,000 after acquiring an additional 3,097 shares during the last quarter. 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.