Applied Optoelectronics (NASDAQ:AAOI) Shares Gap Down on Insider Selling

Applied Optoelectronics, Inc. (NASDAQ:AAOI) gapped down before the market opened on Thursday after an insider sold shares in the company. The stock had previously closed at $33.30, but opened at $32.24. Applied Optoelectronics shares last traded at $32.53, with a volume of 263,087 shares.

Specifically, CFO Stefan J. Murry sold 2,298 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $35.17, for a total transaction of $80,820.66. Following the completion of the transaction, the chief financial officer now directly owns 209,831 shares of the company’s stock, valued at $7,379,756.27. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stefan J. Murry sold 4,000 shares of Applied Optoelectronics stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $31.72, for a total value of $126,880.00. Following the completion of the sale, the chief financial officer now directly owns 212,129 shares in the company, valued at approximately $6,728,731.88. This represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. In other Applied Optoelectronics news, Director Richard B. Black sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $29.00, for a total value of $290,000.00. Following the sale, the director now owns 157,813 shares in the company, valued at approximately $4,576,577. The trade was a 5.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AAOI. StockNews.com raised shares of Applied Optoelectronics to a “sell” rating in a research report on Wednesday. Rosenblatt Securities boosted their price target on shares of Applied Optoelectronics from $27.50 to $44.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Northland Securities restated an “outperform” rating and issued a $40.00 price objective (up previously from $25.00) on shares of Applied Optoelectronics in a report on Wednesday, December 18th. B. Riley lowered Applied Optoelectronics from a “neutral” rating to a “sell” rating and set a $14.00 target price on the stock. in a report on Tuesday, December 10th. Finally, Raymond James boosted their price target on Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Applied Optoelectronics presently has a consensus rating of “Hold” and a consensus price target of $29.20.

Applied Optoelectronics Price Performance

The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $34.91 and a 200 day moving average of $20.93.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AAOI. Pingora Partners LLC acquired a new stake in Applied Optoelectronics during the 3rd quarter valued at $82,000. FMR LLC raised its position in shares of Applied Optoelectronics by 3,290.6% in the third quarter. FMR LLC now owns 6,137 shares of the semiconductor company’s stock valued at $88,000 after purchasing an additional 5,956 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Applied Optoelectronics in the second quarter valued at about $89,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Applied Optoelectronics during the 2nd quarter worth about $118,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Applied Optoelectronics during the 3rd quarter worth about $186,000. 61.72% of the stock is currently owned by 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.