Applied Optoelectronics (NASDAQ:AAOI) Trading Down 5% - What's Next?

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) shares fell 5% during mid-day trading on Wednesday . The stock traded as low as $26.45 and last traded at $26.46. 534,126 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 2,855,604 shares. The stock had previously closed at $27.85.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AAOI. StockNews.com upgraded Applied Optoelectronics to a "sell" rating in a research note on Friday, January 31st. B. Riley lowered Applied Optoelectronics from a "neutral" rating to a "sell" rating and set a $14.00 target price for the company. in a research report on Tuesday, December 10th. Northland Securities reaffirmed an "outperform" rating and issued a $40.00 target price (up from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. Rosenblatt Securities upped their price objective on Applied Optoelectronics from $27.50 to $44.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Finally, Raymond James upped their price target on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the stock an "outperform" rating in a report on Friday, December 20th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $29.20.

Applied Optoelectronics Stock Performance

The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. The firm's 50 day simple moving average is $32.08 and its 200 day simple moving average is $22.89.

Insiders Place Their Bets

In other Applied Optoelectronics news, Director Min-Chu (Mike) Chen sold 9,790 shares of Applied Optoelectronics stock in a transaction on Friday, November 29th. The shares were sold at an average price of $40.00, for a total value of $391,600.00. Following the completion of the transaction, the director now owns 165,054 shares of the company's stock, valued at approximately $6,602,160. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard B. Black sold 10,000 shares of Applied Optoelectronics stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the completion of the sale, the director now owns 157,813 shares in the company, valued at approximately $4,576,577. This trade represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,067 shares of company stock worth $3,243,938 in the last three months. Corporate insiders own 5.40% of the company's stock.

Hedge Funds Weigh In On Applied Optoelectronics

Several institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in shares of Applied Optoelectronics in the 3rd quarter valued at approximately $1,109,000. Harbor Capital Advisors Inc. purchased a new position in shares of Applied Optoelectronics in the 3rd quarter valued at about $1,319,000. Westfield Capital Management Co. LP purchased a new position in Applied Optoelectronics during the 3rd quarter valued at about $19,019,000. Virtu Financial LLC acquired a new stake in shares of Applied Optoelectronics during the 3rd quarter worth about $353,000. Finally, Affinity Wealth Management LLC acquired a new stake in shares of Applied Optoelectronics in the fourth quarter worth approximately $7,965,000. 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.