Applied Optoelectronics (NASDAQ:AAOI) Stock Price Up 9.9% - What's Next?

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) shot up 9.9% on Wednesday . The stock traded as high as $28.81 and last traded at $29.05. 1,992,269 shares were traded during mid-day trading, a decline of 30% from the average session volume of 2,852,682 shares. The stock had previously closed at $26.43.

Analyst Ratings Changes

A number of research firms have recently issued reports on AAOI. Northland Securities reissued an "outperform" rating and issued a $40.00 target price (up previously from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. Raymond James boosted their price objective on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the company an "outperform" rating in a research note on Friday, December 20th. Rosenblatt Securities raised their target price 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. StockNews.com upgraded shares of Applied Optoelectronics to a "sell" rating in a research note on Friday, January 31st. Finally, B. Riley cut shares of Applied Optoelectronics from a "neutral" rating to a "sell" rating and set a $14.00 price target for the company. in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Applied Optoelectronics currently has a consensus rating of "Hold" and a consensus price target of $29.20.

Applied Optoelectronics Stock Performance

The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. The stock's 50 day moving average price is $31.32 and its two-hundred day moving average price is $23.44. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -13.13 and a beta of 2.36.

Insider Activity

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 4,000 shares of the company's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $31.72, for a total value of $126,880.00. Following the sale, the chief financial officer now owns 212,129 shares of the company's stock, valued at approximately $6,728,731.88. This represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William H. Yeh sold 10,000 shares of the firm's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $43.08, for a total value of $430,800.00. Following the completion of the transaction, the director now owns 223,538 shares of the company's stock, valued at approximately $9,630,017.04. This represents a 4.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 54,250 shares of company stock worth $1,976,264. Company insiders own 5.40% of the company's stock.

Institutional Investors Weigh In On Applied Optoelectronics

A number of large investors have recently added to or reduced their stakes in the business. Westfield Capital Management Co. LP acquired a new position in Applied Optoelectronics during the third quarter worth about $19,019,000. Whale Rock Capital Management LLC acquired a new position in shares of Applied Optoelectronics during the 3rd quarter worth approximately $16,145,000. Nomura Holdings Inc. purchased a new stake in Applied Optoelectronics in the 4th quarter valued at approximately $31,331,000. Yong Rong HK Asset Management Ltd acquired a new stake in Applied Optoelectronics during the 4th quarter valued at $27,645,000. Finally, Jefferies Financial Group Inc. purchased a new position in Applied Optoelectronics during the fourth quarter worth $23,354,000. 61.72% of the stock is 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.