Applied Optoelectronics (NASDAQ:AAOI) Trading Up 5.5% - Here's What Happened

Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) was up 5.5% on Monday . The stock traded as high as $13.36 and last traded at $13.25. Approximately 235,109 shares changed hands during trading, a decline of 93% from the average daily volume of 3,139,423 shares. The stock had previously closed at $12.56.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AAOI. StockNews.com upgraded shares of Applied Optoelectronics to a "sell" rating in a report on Wednesday, February 26th. Raymond James restated an "outperform" rating and set a $20.00 price objective on shares of Applied Optoelectronics in a report on Thursday. B. Riley raised Applied Optoelectronics from a "sell" rating to a "neutral" rating and set a $13.00 target price on the stock in a research report on Friday, March 7th. Finally, Rosenblatt Securities dropped their price target on Applied Optoelectronics from $36.00 to $30.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Applied Optoelectronics presently has an average rating of "Hold" and a consensus price target of $22.40.

Applied Optoelectronics Price Performance

The company has a market cap of $699.81 million, a P/E ratio of -6.14 and a beta of 2.57. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61. The firm's fifty day moving average is $16.82 and its two-hundred day moving average is $24.92.

Applied Optoelectronics (NASDAQ:AAOI - Get Free Report) last announced its earnings results on Wednesday, February 26th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.07). The business had revenue of $100.27 million for the quarter, compared to analysts' expectations of $99.92 million. Applied Optoelectronics had a negative net margin of 38.61% and a negative return on equity of 22.36%. As a group, analysts anticipate that Applied Optoelectronics, Inc. will post -1.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 2,000 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.06, for a total transaction of $46,120.00. Following the sale, the chief financial officer now owns 196,581 shares in the company, valued at approximately $4,533,157.86. The trade was a 1.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On Applied Optoelectronics

Large investors have recently bought and sold shares of the business. Nomura Holdings Inc. purchased a new stake in Applied Optoelectronics in the 4th quarter valued at $31,331,000. Yong Rong HK Asset Management Ltd acquired a new position in Applied Optoelectronics in the fourth quarter valued at about $27,645,000. Jefferies Financial Group Inc. purchased a new stake in Applied Optoelectronics during the fourth quarter worth about $23,354,000. Assenagon Asset Management S.A. lifted its position in shares of Applied Optoelectronics by 182.7% during the first quarter. Assenagon Asset Management S.A. now owns 976,520 shares of the semiconductor company's stock worth $14,990,000 after purchasing an additional 631,128 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Applied Optoelectronics during the fourth quarter worth about $13,379,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.