Applied Optoelectronics, Inc. (NASDAQ:AAOI) Short Interest Up 7.2% in August

Applied Optoelectronics, Inc. (NASDAQ:AAOI) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 11,140,000 shares, an increase of 7.2% from the August 15th total of 10,390,000 shares. Based on an average daily volume of 2,220,000 shares, the short-interest ratio is currently 5.0 days.

Applied Optoelectronics Stock Performance

NASDAQ AAOI opened at $13.58 on Wednesday. Applied Optoelectronics has a 52-week low of $6.66 and a 52-week high of $24.75. The company has a 50-day simple moving average of $9.83 and a 200 day simple moving average of $10.94. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.64. The company has a market capitalization of $528.37 million, a PE ratio of -7.43 and a beta of 1.96.

Applied Optoelectronics (NASDAQ:AAOI) last posted its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.01. The business had revenue of $43.27 million during the quarter, compared to the consensus estimate of $44.14 million. Applied Optoelectronics had a negative net margin of 34.84% and a negative return on equity of 19.82%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.31) earnings per share. On average, research analysts predict that Applied Optoelectronics will post -1.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AAOI shares. B. Riley Financial reiterated a “neutral” rating and issued a $9.00 target price on shares of Applied Optoelectronics in a report on Thursday, August 8th. Rosenblatt Securities increased their target price on shares of Applied Optoelectronics from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, September 12th. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a report on Friday, August 9th. Raymond James upgraded shares of 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, B. Riley decreased their price objective on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.75.

Hedge Funds Weigh In On Applied Optoelectronics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co bought a new position in Applied Optoelectronics during the first quarter worth about $46,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Applied Optoelectronics by 272.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,281 shares of the semiconductor company’s stock worth $77,000 after purchasing an additional 6,787 shares during the period. Point72 Hong Kong Ltd bought a new position in Applied Optoelectronics during the second quarter worth about $89,000. Summit Securities Group LLC bought a new position in shares of Applied Optoelectronics in the second quarter valued at approximately $109,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Applied Optoelectronics in the second quarter valued at approximately $118,000. Institutional investors 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.