Applied Optoelectronics, Inc. (NASDAQ:AAOI – Get Free Report) saw unusually large options trading on Tuesday. Stock traders acquired 7,561 call options on the stock. This is an increase of approximately 116% compared to the average daily volume of 3,494 call options.
Institutional Trading of Applied Optoelectronics
Hedge funds have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co bought a new position in shares of Applied Optoelectronics during the first quarter worth $46,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Applied Optoelectronics by 272.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after buying an additional 6,787 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Applied Optoelectronics during the 2nd quarter worth approximately $89,000. Summit Securities Group LLC acquired a new stake in shares of Applied Optoelectronics during the 2nd quarter worth approximately $109,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Applied Optoelectronics during the 2nd quarter worth approximately $118,000. Institutional investors and hedge funds own 61.72% of the company’s stock.
Applied Optoelectronics Stock Up 13.0 %
Shares of NASDAQ AAOI traded up $1.83 during mid-day trading on Tuesday, reaching $15.89. The company had a trading volume of 2,055,770 shares, compared to its average volume of 2,429,090. The stock has a market capitalization of $618.25 million, a PE ratio of -8.28 and a beta of 1.96. Applied Optoelectronics has a twelve month low of $6.66 and a twelve month high of $24.75. The stock’s 50 day moving average is $10.28 and its 200-day moving average is $10.90. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.64.
Wall Street Analyst Weigh In
AAOI has been the subject of several recent research reports. B. Riley dropped their price target on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a research note on Friday, August 9th. Rosenblatt Securities boosted their price objective on Applied Optoelectronics from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. 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. Finally, Raymond James raised Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 target price on the stock in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.75.
Check Out Our Latest Stock Analysis on AAOI
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.
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