Applied Optoelectronics (NASDAQ:AAOI) Shares Up 8% - Time to Buy?

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) shares shot up 8% during trading on Thursday . The stock traded as high as $26.95 and last traded at $27.03. 1,015,918 shares changed hands during trading, a decline of 65% from the average session volume of 2,872,368 shares. The stock had previously closed at $25.03.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Northland Securities reaffirmed an "outperform" rating and issued a $40.00 price objective (up previously from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday, December 18th. StockNews.com upgraded Applied Optoelectronics to a "sell" rating in a report on Friday, January 31st. Raymond James upped their price target on 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 Applied Optoelectronics from a "neutral" rating to a "sell" rating and set a $14.00 price objective on the stock. in a report on Tuesday, December 10th. Finally, Rosenblatt Securities boosted their target price on Applied Optoelectronics from $27.50 to $44.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $29.20.

Applied Optoelectronics Stock Down 4.2 %

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 firm has a market capitalization of $1.21 billion, a P/E ratio of -12.57 and a beta of 2.36. The business has a 50 day moving average price of $31.88 and a 200 day moving average price of $23.11.

Insiders Place Their Bets

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 value of $290,000.00. Following the completion of the transaction, the director now owns 157,813 shares of the company's stock, valued at $4,576,577. This represents a 5.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the firm'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 of the company's stock, valued at $5,935,610.20. This represents a 9.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,067 shares of company stock valued at $3,243,938 in the last three months. Company insiders own 5.40% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new position in shares of Applied Optoelectronics in the 2nd quarter worth approximately $118,000. Allspring Global Investments Holdings LLC bought a new stake in Applied Optoelectronics in the third quarter valued at $303,000. Rice Hall James & Associates LLC raised its stake in Applied Optoelectronics by 75.8% during the third quarter. Rice Hall James & Associates LLC now owns 235,763 shares of the semiconductor company's stock worth $3,374,000 after acquiring an additional 101,640 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its holdings in shares of Applied Optoelectronics by 2.8% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 410,154 shares of the semiconductor company's stock valued at $5,869,000 after acquiring an additional 11,037 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Applied Optoelectronics in the 3rd quarter valued at $1,319,000. 61.72% of the stock is currently owned by institutional investors and hedge funds.

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.