Applied Optoelectronics (NASDAQ:AAOI) Stock Price Down 4.4% Following Insider Selling

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s stock price traded down 4.4% during trading on Friday after an insider sold shares in the company. The stock traded as low as $30.97 and last traded at $31.08. 1,256,881 shares were traded during trading, a decline of 56% from the average session volume of 2,825,300 shares. The stock had previously closed at $32.50.

Specifically, CFO Stefan J. Murry sold 2,298 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $35.17, for a total value of $80,820.66. Following the completion of the sale, the chief financial officer now owns 209,831 shares in the company, valued at approximately $7,379,756.27. This represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. B. Riley downgraded shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price on the stock. in a research note on Tuesday, December 10th. Rosenblatt Securities increased their price objective on Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Raymond James lifted their target price on Applied Optoelectronics from $17.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, December 20th. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a research report on Wednesday. Finally, Northland Securities reaffirmed an “outperform” rating and set a $40.00 price objective (up from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Applied Optoelectronics has a consensus rating of “Hold” and an average target price of $29.20.

Applied Optoelectronics Trading Down 5.6 %

The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -14.90 and a beta of 2.39. The company has a fifty day moving average price of $34.91 and a 200-day moving average price of $20.93. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

Institutional Trading of Applied Optoelectronics

A number of institutional investors have recently added to or reduced their stakes in the business. Pingora Partners LLC acquired a new position in shares of Applied Optoelectronics during the 3rd quarter worth $82,000. FMR LLC increased 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 during the last quarter. Point72 Hong Kong Ltd bought a new position in Applied Optoelectronics during the second quarter valued at about $89,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Applied Optoelectronics in the second quarter worth about $118,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Applied Optoelectronics during the 3rd quarter worth about $186,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.