Applied Optoelectronics (NASDAQ:AAOI) Trading Up 8.3%

Applied Optoelectronics Inc (NASDAQ:AAOI) shares were up 8.3% on Wednesday . The company traded as high as $12.48 and last traded at $12.46, approximately 995,245 shares traded hands during mid-day trading. An increase of 15% from the average daily volume of 863,570 shares. The stock had previously closed at $11.51.

A number of research analysts have weighed in on AAOI shares. Zacks Investment Research cut shares of Applied Optoelectronics from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. BidaskClub raised shares of Applied Optoelectronics from a “sell” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. cut shares of Applied Optoelectronics from a “neutral” rating to an “underweight” rating and set a $11.00 price objective for the company. in a report on Tuesday, October 22nd. They noted that the move was a valuation call. Finally, Rosenblatt Securities raised shares of Applied Optoelectronics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $10.00 to $13.00 in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Applied Optoelectronics currently has a consensus rating of “Hold” and a consensus target price of $11.58.

The firm has a market cap of $250.29 million, a PE ratio of -6.04 and a beta of 2.12. The business’s 50 day moving average price is $12.62 and its 200 day moving average price is $10.93. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.96 and a quick ratio of 1.68.

Several hedge funds have recently added to or reduced their stakes in AAOI. Tower Research Capital LLC TRC increased its stake in shares of Applied Optoelectronics by 76.3% during the third quarter. Tower Research Capital LLC TRC now owns 2,637 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 1,141 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Applied Optoelectronics by 27.2% during the third quarter. Steward Partners Investment Advisory LLC now owns 6,430 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 1,375 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Applied Optoelectronics by 127.1% during the third quarter. State of Alaska Department of Revenue now owns 14,572 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 8,155 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Applied Optoelectronics during the 4th quarter valued at about $208,000. Finally, Great West Life Assurance Co. Can purchased a new stake in Applied Optoelectronics during the 4th quarter valued at about $265,000. 61.49% of the stock is owned by institutional investors and hedge funds.

Applied Optoelectronics Company Profile (NASDAQ:AAOI)

Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to Internet data center operators, cable television and telecommunications equipment manufacturers, and Internet service providers through its direct and indirect sales channels.

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