Applied Optoelectronics, Inc. (NASDAQ:AAOI) Sees Large Decrease in Short Interest

Applied Optoelectronics, Inc. (NASDAQ:AAOI) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 8,420,000 shares, a decrease of 11.9% from the December 15th total of 9,560,000 shares. Based on an average daily volume of 3,670,000 shares, the days-to-cover ratio is presently 2.3 days.

Analyst Ratings Changes

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

Insider Transactions at Applied Optoelectronics

In other Applied Optoelectronics news, CFO Stefan J. Murry sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $31.72, for a total value of $126,880.00. Following the sale, the chief financial officer now owns 212,129 shares of the company’s stock, valued at $6,728,731.88. The trade was a 1.85 % 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. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $30.35, for a total value of $616,803.05. Following the transaction, the insider now owns 195,572 shares of the company’s stock, valued at approximately $5,935,610.20. This represents a 9.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,769 shares of company stock worth $3,432,417. 5.40% of the stock is currently owned by company insiders.

Institutional Trading of Applied Optoelectronics

Several institutional investors have recently modified their holdings of the stock. Pingora Partners LLC acquired a new stake in shares of Applied Optoelectronics in the 3rd quarter valued at about $82,000. FMR LLC lifted its stake in 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 buying an additional 5,956 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Applied Optoelectronics in the second quarter valued at approximately $89,000. The Manufacturers Life Insurance Company purchased a new position in shares of Applied Optoelectronics during the second quarter worth approximately $118,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Applied Optoelectronics in the 3rd quarter valued at $186,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Applied Optoelectronics Price Performance

Shares of NASDAQ AAOI opened at $31.03 on Friday. The stock’s 50-day simple moving average is $34.54 and its 200-day simple moving average is $20.20. The firm has a market capitalization of $1.45 billion, a PE ratio of -15.06 and a beta of 2.39. Applied Optoelectronics has a fifty-two week low of $6.70 and a fifty-two week high of $44.50. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.61.

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.