Applied Optoelectronics (NASDAQ:AAOI) Shares Up 9.2% - Here's What Happened

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) shares shot up 9.2% on Tuesday . The stock traded as high as $26.37 and last traded at $26.79. 2,472,451 shares were traded during trading, a decline of 19% from the average session volume of 3,059,058 shares. The stock had previously closed at $24.54.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AAOI. B. Riley lowered 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. Raymond James increased their price objective on Applied Optoelectronics from $17.00 to $39.00 and gave the stock an "outperform" rating in a report on Friday, December 20th. StockNews.com upgraded Applied Optoelectronics to a "sell" rating in a report on Friday. Northland Securities restated an "outperform" rating and set a $40.00 target price (up from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. Finally, Rosenblatt Securities lifted their price objective on Applied Optoelectronics from $27.50 to $44.00 and gave the stock a "buy" rating in a research note 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $29.20.

Applied Optoelectronics Stock Down 0.5 %

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 business has a 50 day moving average price of $34.31 and a 200 day moving average price of $21.61. The firm has a market capitalization of $1.31 billion, a P/E ratio of -13.55 and a beta of 2.39.

Insider Buying and Selling

In other Applied Optoelectronics news, insider Hung-Lun (Fred) Chang sold 20,323 shares of Applied Optoelectronics stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $30.35, for a total transaction of $616,803.05. Following the sale, the insider now directly owns 195,572 shares of the company's stock, valued at approximately $5,935,610.20. The trade was a 9.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stefan J. Murry sold 2,298 shares of Applied Optoelectronics stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $35.17, for a total transaction of $80,820.66. Following the completion of the transaction, the chief financial officer now owns 209,831 shares of the company's stock, valued at $7,379,756.27. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 103,067 shares of company stock valued at $3,513,238 over the last three months. 5.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Westfield Capital Management Co. LP bought a new stake in shares of Applied Optoelectronics during the 3rd quarter valued at $19,019,000. Whale Rock Capital Management LLC bought a new stake in shares of Applied Optoelectronics during the 3rd quarter valued at $16,145,000. Royce & Associates LP raised its position in shares of Applied Optoelectronics by 47.7% during the 3rd quarter. Royce & Associates LP now owns 1,596,545 shares of the semiconductor company's stock valued at $22,847,000 after acquiring an additional 515,489 shares during the last quarter. JAT Capital Mgmt LP bought a new stake in shares of Applied Optoelectronics during the 3rd quarter valued at $6,470,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Applied Optoelectronics during the 4th quarter valued at $12,731,000. Institutional investors own 61.72% of the company's stock.

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.