Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Down - Here's What Happened

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $16.38, but opened at $15.49. Applied Optoelectronics shares last traded at $15.82, with a volume of 370,966 shares.

Analyst Ratings Changes

AAOI has been the subject of a number of recent analyst reports. Raymond James lifted their price objective on Applied Optoelectronics to $31.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Northland Securities restated an "outperform" rating and issued a $40.00 price target (up previously from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. Rosenblatt Securities reiterated a "buy" rating and set a $36.00 price objective on shares of Applied Optoelectronics in a report on Friday, March 14th. B. Riley raised shares of Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 target price on the stock in a research report on Friday, March 7th. Finally, StockNews.com raised shares of Applied Optoelectronics to a "sell" rating in a research report on Wednesday, February 26th. One equities 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 stock. According to data from MarketBeat.com, Applied Optoelectronics presently has an average rating of "Hold" and a consensus target price of $25.80.

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Applied Optoelectronics Price Performance

The company's 50-day simple moving average is $22.96 and its 200-day simple moving average is $25.32. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.61 and a quick ratio of 1.06. The company has a market cap of $795.62 million, a price-to-earnings ratio of -7.75 and a beta of 2.36.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The firm had revenue of $100.27 million for the quarter, compared to analysts' expectations of $99.92 million. Applied Optoelectronics had a negative return on equity of 22.36% and a negative net margin of 38.61%. On average, equities research analysts anticipate that Applied Optoelectronics, Inc. will post -1.18 EPS for the current year.

Insider Buying and Selling at Applied Optoelectronics

In other Applied Optoelectronics news, Director Richard B. Black sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $29.00, for a total transaction of $290,000.00. Following the sale, the director now owns 157,813 shares in the company, valued at $4,576,577. This represents a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Stefan J. Murry sold 2,000 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $23.06, for a total value of $46,120.00. Following the transaction, the chief financial officer now owns 196,581 shares in the company, valued at $4,533,157.86. This trade represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,298 shares of company stock worth $543,821 in the last 90 days. 4.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. bought a new stake in Applied Optoelectronics during the fourth quarter worth approximately $38,000. Sterling Capital Management LLC raised its stake in shares of Applied Optoelectronics by 858.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,284 shares of the semiconductor company's stock worth $47,000 after buying an additional 1,150 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Applied Optoelectronics in the fourth quarter valued at $63,000. Pingora Partners LLC bought a new position in Applied Optoelectronics during the third quarter valued at about $82,000. Finally, FMR LLC grew its holdings 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 acquiring an additional 5,956 shares during the period. Institutional investors own 61.72% of the company's stock.

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.