Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Down - What's Next?

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $30.52, but opened at $29.29. Applied Optoelectronics shares last traded at $29.56, with a volume of 258,591 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AAOI. StockNews.com upgraded shares of Applied Optoelectronics to a "sell" rating in a research report on Friday, January 31st. Rosenblatt Securities lifted their price objective on shares of 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 price objective on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the stock an "outperform" rating in a research note on Friday, December 20th. B. Riley lowered shares of Applied Optoelectronics from a "neutral" rating to a "sell" rating and set a $14.00 price objective for the company. in a research note on Tuesday, December 10th. Finally, Northland Securities restated an "outperform" rating and issued a $40.00 price objective (up from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $29.20.

Applied Optoelectronics Trading Down 4.2 %

The company has a 50 day moving average of $32.34 and a 200 day moving average of $22.67. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -12.58 and a beta of 2.36.

Insider Buying and Selling at Applied Optoelectronics

In other Applied Optoelectronics news, insider Hung-Lun (Fred) Chang sold 20,323 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $30.35, for a total value of $616,803.05. Following the completion of the sale, the insider now owns 195,572 shares in the company, valued at approximately $5,935,610.20. The trade was a 9.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stefan J. Murry sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $31.56, for a total value of $157,800.00. Following the completion of the transaction, the chief financial officer now directly owns 216,129 shares in the company, valued at approximately $6,821,031.24. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,067 shares of company stock worth $3,243,938 in the last three months. 5.40% of the stock is owned by corporate insiders.

Institutional Trading of Applied Optoelectronics

Several institutional investors and hedge funds have recently made changes to their positions in AAOI. Meeder Asset Management Inc. purchased a new stake in shares of Applied Optoelectronics in the fourth quarter valued at $38,000. Sterling Capital Management LLC lifted its position in shares of Applied Optoelectronics by 858.2% in the fourth quarter. Sterling Capital Management LLC now owns 1,284 shares of the semiconductor company's stock valued at $47,000 after acquiring an additional 1,150 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Applied Optoelectronics in the fourth quarter valued at $63,000. Pingora Partners LLC purchased a new position in Applied Optoelectronics during the third quarter worth about $82,000. Finally, FMR LLC lifted 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 period. 61.72% of the stock is currently owned by hedge funds and other institutional investors.

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.