Applied Optoelectronics (NASDAQ:AAOI) Shares Down 7.6% – Time to Sell?

Applied Optoelectronics, Inc. (NASDAQ:AAOI) shares were down 7.6% on Monday . The company traded as low as $28.70 and last traded at $29.20. Approximately 630,752 shares changed hands during trading, a decline of 75% from the average daily volume of 2,502,750 shares. The stock had previously closed at $31.60.

Analysts Set New Price Targets

AAOI has been the subject of several research reports. Northland Securities reaffirmed an “outperform” rating and issued a $40.00 target price (up previously from $25.00) on shares of Applied Optoelectronics in a research note on Wednesday, December 18th. Rosenblatt Securities upped their price objective on Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a research report on Friday, December 13th. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a research note on Friday, January 3rd. B. Riley cut shares of Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 price target on the stock. in a research note on Tuesday, December 10th. Finally, Raymond James lifted their price target on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $29.20.

Applied Optoelectronics Trading Down 7.2 %

The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1.37 billion, a PE ratio of -14.24 and a beta of 2.39. The business’s fifty day moving average is $33.44 and its 200-day moving average is $19.52.

Insider Activity

In related news, CFO Stefan J. Murry sold 5,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $6,821,031.24. This trade represents a 2.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David C. Kuo sold 10,000 shares of Applied Optoelectronics stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $26.93, for a total transaction of $269,300.00. Following the sale, the insider now owns 118,122 shares in the company, valued at $3,181,025.46. This represents a 7.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,769 shares of company stock valued at $3,015,537 in the last three months. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AAOI. Pingora Partners LLC acquired a new stake in Applied Optoelectronics in the third quarter valued at $82,000. FMR LLC lifted its position in shares of Applied Optoelectronics by 3,290.6% during the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock worth $88,000 after purchasing an additional 5,956 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Applied Optoelectronics in the second quarter worth about $89,000. The Manufacturers Life Insurance Company bought a new stake in Applied Optoelectronics in the second quarter valued at about $118,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Applied Optoelectronics during the third quarter valued at approximately $186,000. 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.