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

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 9,830,000 shares, a decrease of 9.1% from the October 31st total of 10,810,000 shares. Based on an average daily volume of 3,250,000 shares, the days-to-cover ratio is presently 3.0 days.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AAOI. B. Riley cut their price objective on Applied Optoelectronics from $12.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 7th. Rosenblatt Securities upped their price target on Applied Optoelectronics from $20.00 to $27.50 and gave the stock a "buy" rating in a report on Friday, November 8th. StockNews.com raised Applied Optoelectronics to a "sell" rating in a research report on Friday, October 25th. B. Riley Financial reissued a "neutral" rating and set a $9.00 price objective on shares of Applied Optoelectronics in a research report on Thursday, August 8th. Finally, Northland Securities upped their target price on shares of Applied Optoelectronics from $18.00 to $25.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Applied Optoelectronics currently has an average rating of "Hold" and a consensus target price of $18.70.

Insider Transactions at Applied Optoelectronics

In related news, Director Richard B. Black sold 8,162 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $37.18, for a total transaction of $303,463.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the business's 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 sale, the insider now owns 195,572 shares in the company, valued at $5,935,610.20. This trade represents a 9.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,979 shares of company stock worth $1,990,637. 5.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Applied Optoelectronics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co acquired a new position in Applied Optoelectronics in the first quarter valued at approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Applied Optoelectronics by 272.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company's stock worth $77,000 after buying an additional 6,787 shares during the last quarter. Pingora Partners LLC acquired a new position in shares of Applied Optoelectronics in the 3rd quarter valued at $82,000. FMR LLC grew its position in shares of Applied Optoelectronics by 3,290.6% in the 3rd quarter. FMR LLC now owns 6,137 shares of the semiconductor company's stock valued at $88,000 after buying an additional 5,956 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Applied Optoelectronics during the 2nd quarter worth $89,000. Institutional investors and hedge funds own 61.72% of the company's stock.

Applied Optoelectronics Stock Down 1.2 %

Applied Optoelectronics stock traded down $0.48 during midday trading on Monday, reaching $40.74. The company's stock had a trading volume of 4,004,243 shares, compared to its average volume of 2,659,210. The business has a 50-day simple moving average of $21.50 and a 200-day simple moving average of $14.13. The company has a market cap of $1.84 billion, a P/E ratio of -19.78 and a beta of 1.96. Applied Optoelectronics has a fifty-two week low of $6.70 and a fifty-two week high of $43.88. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36.

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.