Applied Optoelectronics, Inc. (NASDAQ:AAOI - Get Free Report) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 9,550,000 shares, a growth of 12.9% from the January 15th total of 8,460,000 shares. Based on an average trading volume of 3,820,000 shares, the days-to-cover ratio is currently 2.5 days.
In other news, Director Richard B. Black sold 10,000 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the completion of the transaction, the director now owns 157,813 shares of the company's stock, valued at $4,576,577. This represents a 5.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Stefan J. Murry sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $31.56, for a total transaction of $157,800.00. Following the sale, the chief financial officer now directly owns 216,129 shares of the company's stock, valued at approximately $6,821,031.24. This trade represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,067 shares of company stock worth $3,243,938 over the last 90 days. 5.40% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in AAOI. The Manufacturers Life Insurance Company bought a new stake in shares of Applied Optoelectronics during the 2nd quarter valued at $118,000. Allspring Global Investments Holdings LLC bought a new stake in Applied Optoelectronics in the third quarter worth about $303,000. Rice Hall James & Associates LLC lifted its stake in Applied Optoelectronics by 75.8% in the third quarter. Rice Hall James & Associates LLC now owns 235,763 shares of the semiconductor company's stock worth $3,374,000 after purchasing an additional 101,640 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its position in shares of Applied Optoelectronics by 2.8% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 410,154 shares of the semiconductor company's stock worth $5,869,000 after acquiring an additional 11,037 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Applied Optoelectronics during the third quarter worth approximately $1,319,000. 61.72% of the stock is currently owned by hedge funds and other institutional investors.
AAOI traded down $1.14 during trading on Friday, reaching $25.90. The stock had a trading volume of 2,248,933 shares, compared to its average volume of 2,862,866. The stock has a market cap of $1.21 billion, a PE ratio of -12.57 and a beta of 2.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61. Applied Optoelectronics has a one year low of $6.70 and a one year high of $44.50. The business has a 50-day moving average of $32.08 and a 200-day moving average of $22.79.
Several equities research analysts have weighed in on AAOI shares. Rosenblatt Securities increased their target price on Applied Optoelectronics from $27.50 to $44.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. B. Riley downgraded Applied Optoelectronics from a "neutral" rating to a "sell" rating and set a $14.00 price target on the stock. in a research report on Tuesday, December 10th. StockNews.com raised Applied Optoelectronics to a "sell" rating in a research note on Friday, January 31st. Northland Securities restated an "outperform" rating and set a $40.00 target price (up previously from $25.00) on shares of Applied Optoelectronics in a research report on Wednesday, December 18th. Finally, Raymond James boosted their target price on Applied Optoelectronics from $17.00 to $39.00 and gave the company an "outperform" rating in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $29.20.
Get Our Latest Stock Report on 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.
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