Applied Optoelectronics, Inc. (NASDAQ:AAOI) Sees Significant Decrease in Short Interest

Applied Optoelectronics, Inc. (NASDAQ:AAOI) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 8,420,000 shares, a decline of 11.9% from the December 15th total of 9,560,000 shares. Based on an average trading volume of 3,670,000 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a report on Friday, January 3rd. B. Riley downgraded shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price for the company. in a report on Tuesday, December 10th. Raymond James increased their target price on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Northland Securities restated an “outperform” rating and set a $40.00 price target (up previously from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. Finally, Rosenblatt Securities increased their price target on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Two equities research 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’s stock. Based on data from MarketBeat, Applied Optoelectronics currently has an average rating of “Hold” and an average target price of $29.20.

Insider Activity at Applied Optoelectronics

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $31.56, for a total transaction of $157,800.00. Following the transaction, the chief financial officer now owns 216,129 shares in the company, valued at approximately $6,821,031.24. This represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William H. Yeh sold 10,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $43.08, for a total transaction of $430,800.00. Following the completion of the sale, 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. Insiders have sold 100,769 shares of company stock worth $3,432,417 in the last quarter. Company insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Applied Optoelectronics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pingora Partners LLC bought a new position in Applied Optoelectronics during the third quarter worth about $82,000. FMR LLC boosted its position 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 purchasing an additional 5,956 shares during the period. Point72 Hong Kong Ltd bought a new position in Applied Optoelectronics during the second quarter worth about $89,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Applied Optoelectronics in the third quarter worth about $186,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Applied Optoelectronics in the second quarter worth about $118,000. Institutional investors own 61.72% of the company’s stock.

Applied Optoelectronics Price Performance

Shares of NASDAQ:AAOI opened at $31.03 on Friday. 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 has a market capitalization of $1.45 billion, a PE ratio of -15.06 and a beta of 2.39. Applied Optoelectronics has a twelve month low of $6.70 and a twelve month high of $44.50. The company has a 50-day moving average price of $34.54 and a two-hundred day moving average price of $20.12.

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.