Applied Optoelectronics (NASDAQ:AAOI) Stock Price Down 6.7% – Time to Sell?

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

Analyst Ratings Changes

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

Applied Optoelectronics Stock Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 0.97. The company has a market cap of $739.25 million, a price-to-earnings ratio of -10.44 and a beta of 1.96. The firm has a 50 day simple moving average of $12.81 and a 200-day simple moving average of $11.19.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.01. The firm had revenue of $43.27 million for the quarter, compared to analyst estimates of $44.14 million. Applied Optoelectronics had a negative net margin of 34.84% and a negative return on equity of 19.82%. Applied Optoelectronics’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.31) EPS. As a group, analysts predict that Applied Optoelectronics, Inc. will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Applied Optoelectronics news, insider David C. Kuo sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $15.02, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Applied Optoelectronics

Institutional investors and hedge funds have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co purchased a new stake in shares of Applied Optoelectronics during the first quarter worth $46,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in 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 in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Applied Optoelectronics in the 2nd quarter valued at about $89,000. Truvestments Capital LLC acquired a new position in shares of Applied Optoelectronics during the first quarter worth about $161,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Applied Optoelectronics during the second quarter worth approximately $109,000. 61.72% of the stock is currently 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.