Applied Optoelectronics (NASDAQ:AAOI) Stock Price Down 7.6% - Here's Why

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) was down 7.6% on Monday . The stock traded as low as $28.70 and last traded at $29.20. Approximately 630,752 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 2,502,750 shares. The stock had previously closed at $31.60.

Wall Street Analyst Weigh In

A number of research firms have commented on AAOI. Raymond James boosted their target price on Applied Optoelectronics from $17.00 to $39.00 and gave the stock an "outperform" rating in a research report on Friday, December 20th. Rosenblatt Securities boosted their price objective on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. B. Riley cut shares of Applied Optoelectronics from a "neutral" rating to a "sell" rating and set a $14.00 price objective on the stock. in a research note on Tuesday, December 10th. StockNews.com upgraded shares of Applied Optoelectronics to a "sell" rating in a research report on Friday, January 3rd. Finally, Northland Securities reiterated an "outperform" rating and issued a $40.00 price target (up from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $29.20.

Applied Optoelectronics Stock Up 12.2 %

The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -15.14 and a beta of 2.39. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. The firm's 50 day moving average is $33.91 and its two-hundred day moving average is $19.80.

Insider Transactions at Applied Optoelectronics

In other Applied Optoelectronics news, Director Min-Chu (Mike) Chen sold 9,790 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $40.00, for a total transaction of $391,600.00. Following the transaction, the director now owns 165,054 shares of the company's stock, valued at $6,602,160. This represents a 5.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider David C. Kuo sold 10,000 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $26.93, for a total value of $269,300.00. Following the sale, the insider now owns 118,122 shares in the company, valued at $3,181,025.46. This trade represents a 7.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,769 shares of company stock worth $3,015,537 over the last ninety days. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Applied Optoelectronics

Several large investors have recently added to or reduced their stakes in the business. Pingora Partners LLC purchased a new stake in Applied Optoelectronics in the 3rd quarter valued at about $82,000. FMR LLC boosted its position in shares of Applied Optoelectronics by 3,290.6% in the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company's stock worth $88,000 after acquiring an additional 5,956 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Applied Optoelectronics in the second quarter valued at approximately $89,000. Oppenheimer & Co. Inc. acquired a new position in Applied Optoelectronics during the third quarter worth approximately $186,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Applied Optoelectronics during the second quarter worth approximately $118,000. 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.