Applied Optoelectronics (NASDAQ:AAOI) Stock Price Down 4.4% After Insider Selling

Applied Optoelectronics, Inc. (NASDAQ:AAOI)’s share price was down 4.4% on Friday following insider selling activity. The company traded as low as $30.97 and last traded at $31.08. Approximately 1,256,881 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 2,825,300 shares. The stock had previously closed at $32.50.

Specifically, CFO Stefan J. Murry sold 2,298 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $35.17, for a total value of $80,820.66. Following the completion of the transaction, the chief financial officer now directly owns 209,831 shares in the company, valued at approximately $7,379,756.27. This represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

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

Applied Optoelectronics Stock Performance

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 business’s fifty day moving average is $34.83 and its two-hundred day moving average is $20.78. The stock has a market capitalization of $1.46 billion, a PE ratio of -15.06 and a beta of 2.39.

Institutional Trading of Applied Optoelectronics

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