Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Up After Analyst Upgrade

Applied Optoelectronics, Inc. (NASDAQ:AAOI) gapped up prior to trading on Friday after Rosenblatt Securities raised their price target on the stock from $20.00 to $27.50. The stock had previously closed at $17.90, but opened at $19.50. Rosenblatt Securities currently has a buy rating on the stock. Applied Optoelectronics shares last traded at $22.30, with a volume of 4,221,311 shares.

Other equities analysts have also issued research reports about the stock. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a report on Friday, October 25th. Raymond James increased their price target on shares of Applied Optoelectronics from $17.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday. B. Riley Financial reissued a “neutral” rating and issued a $9.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 8th. Northland Securities increased their price target on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday. Finally, B. Riley reduced their target price on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $18.70.

Insider Activity

In other news, insider David C. Kuo sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total transaction of $150,200.00. Following the completion of the sale, the insider now owns 132,921 shares of the company’s stock, valued at approximately $1,996,473.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

Hedge funds and other institutional investors have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co bought a new position in shares of Applied Optoelectronics during the first quarter valued at approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Applied Optoelectronics by 272.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after acquiring an additional 6,787 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Applied Optoelectronics during the second quarter valued at approximately $89,000. Summit Securities Group LLC bought a new position in shares of Applied Optoelectronics during the second quarter valued at approximately $109,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Applied Optoelectronics during the second quarter valued at approximately $118,000. Institutional investors own 61.72% of the company’s stock.

Applied Optoelectronics Stock Performance

The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 0.41. The company has a market cap of $1.14 billion, a P/E ratio of -14.53 and a beta of 1.96. The business has a fifty day moving average of $15.59 and a 200 day moving average of $11.79.

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.