Applied Optoelectronics (NASDAQ:AAOI) Trading Down 6.7% – Here’s Why

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s share price was down 6.7% on Tuesday . The stock traded as low as $16.95 and last traded at $17.19. Approximately 1,332,689 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 2,443,625 shares. The stock had previously closed at $18.42.

Analyst Ratings Changes

Several research analysts have weighed in on AAOI shares. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 price objective on shares of Applied Optoelectronics in a research note on Wednesday, October 9th. B. Riley decreased their price objective on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. B. Riley Financial reaffirmed a “neutral” rating and set a $9.00 price objective on shares of Applied Optoelectronics in a report on Thursday, August 8th. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a report on Thursday, October 3rd. Finally, Raymond James raised shares of Applied Optoelectronics from a “market perform” rating to an “outperform” rating and set a $17.00 price objective for the company in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.75.

Applied Optoelectronics Trading Down 5.5 %

The company has a market cap of $677.00 million, a price-to-earnings ratio of -9.45 and a beta of 1.96. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.64. The business’s 50 day moving average price is $12.15 and its 200-day moving average price is $11.05.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.01. The company had revenue of $43.27 million during the quarter, compared to analysts’ expectations of $44.14 million. Applied Optoelectronics had a negative net margin of 34.84% and a negative return on equity of 19.82%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.31) EPS. On average, research analysts forecast that Applied Optoelectronics, Inc. will post -1.08 EPS for the current year.

Insiders Place Their Bets

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $15.02, for a total transaction of $150,200.00. Following the sale, the insider now owns 132,921 shares of the company’s stock, valued at $1,996,473.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AAOI. CANADA LIFE ASSURANCE Co bought a new position in shares of Applied Optoelectronics in the 1st quarter valued at about $46,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Applied Optoelectronics by 272.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock valued at $77,000 after purchasing an additional 6,787 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Applied Optoelectronics in the 2nd quarter valued at about $89,000. Summit Securities Group LLC bought a new position in shares of Applied Optoelectronics in the 2nd quarter valued at about $109,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Applied Optoelectronics in the 2nd quarter valued at about $118,000. Institutional investors own 61.72% of the company’s stock.

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.