Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Up – What’s Next?

Applied Optoelectronics, Inc. (NASDAQ:AAOI) shares gapped up prior to trading on Monday . The stock had previously closed at $27.04, but opened at $27.82. Applied Optoelectronics shares last traded at $28.24, with a volume of 2,465,798 shares traded.

Analysts Set New Price Targets

AAOI has been the subject of a number of recent analyst reports. Northland Securities reiterated an “outperform” rating and issued a $40.00 price target (up from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research report on Friday, January 31st. Rosenblatt Securities restated a “buy” rating and set a $44.00 target price on shares of Applied Optoelectronics in a research report on Monday. B. Riley lowered shares of 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. Finally, Raymond James upped their target price on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Applied Optoelectronics currently has a consensus rating of “Hold” and an average target price of $29.20.

Applied Optoelectronics Trading Up 2.3 %

The company has a market cap of $1.30 billion, a PE ratio of -13.47 and a beta of 2.36. 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 stock’s 50 day moving average is $31.32 and its 200-day moving average is $23.67.

Insider Activity

In related news, Director Richard B. Black sold 8,162 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $37.18, for a total value of $303,463.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Stefan J. Murry sold 2,298 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $35.17, for a total transaction of $80,820.66. Following the transaction, the chief financial officer now owns 209,831 shares in the company, valued at approximately $7,379,756.27. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,250 shares of company stock valued at $1,976,264. 5.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Applied Optoelectronics

A number of institutional investors have recently bought and sold shares of AAOI. Westfield Capital Management Co. LP purchased a new position in shares of Applied Optoelectronics during the 3rd quarter valued at approximately $19,019,000. Whale Rock Capital Management LLC acquired a new stake in Applied Optoelectronics during the 3rd quarter worth $16,145,000. Nomura Holdings Inc. acquired a new position in shares of Applied Optoelectronics during the 4th quarter valued at about $31,331,000. Yong Rong HK Asset Management Ltd acquired a new position in shares of Applied Optoelectronics during the 4th quarter valued at about $27,645,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Applied Optoelectronics during the 4th quarter valued at about $23,354,000. 61.72% of the stock is owned by hedge funds and other institutional investors.

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.