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

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

Insider Buying and Selling at Applied Optoelectronics

In related news, insider David C. Kuo sold 10,000 shares of the stock in a transaction 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 transaction, the insider now owns 118,122 shares of the company’s stock, valued at approximately $3,181,025.46. This trade represents a 7.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Hung-Lun (Fred) Chang sold 20,323 shares of Applied Optoelectronics stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 195,572 shares in the company, valued at $5,935,610.20. This trade represents a 9.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,769 shares of company stock worth $3,432,417. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Applied Optoelectronics

Several institutional investors and hedge funds have recently added to or reduced their stakes in AAOI. Pingora Partners LLC acquired a new position in shares of Applied Optoelectronics during the third quarter valued at approximately $82,000. FMR LLC raised its stake in Applied Optoelectronics by 3,290.6% in the 3rd 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 last quarter. Point72 Hong Kong Ltd acquired a new stake in Applied Optoelectronics during the 2nd quarter worth $89,000. Oppenheimer & Co. Inc. acquired a new stake in Applied Optoelectronics during the 3rd quarter worth $186,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Applied Optoelectronics during the second quarter worth $118,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Applied Optoelectronics Stock Up 0.5 %

AAOI stock opened at $31.03 on Friday. Applied Optoelectronics has a one year low of $6.70 and a one year 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. The firm’s fifty day moving average is $34.54 and its 200 day moving average is $20.20. The firm has a market cap of $1.45 billion, a PE ratio of -15.06 and a beta of 2.39.

Wall Street Analyst Weigh In

AAOI has been the topic of several recent research reports. B. Riley downgraded 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 report on Tuesday, December 10th. Northland Securities reissued 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. StockNews.com raised Applied Optoelectronics to a “sell” rating in a research note on Friday, January 3rd. Rosenblatt Securities boosted their price objective on Applied Optoelectronics from $27.50 to $44.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Raymond James raised their target price on shares of Applied Optoelectronics from $17.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $29.20.

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.