Applied Optoelectronics (NASDAQ:AAOI) Shares Pass Below 200-Day Moving Average of $2.30

Applied Optoelectronics, Inc. (NASDAQ:AAOIGet Rating)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.30 and traded as low as $2.17. Applied Optoelectronics shares last traded at $2.18, with a volume of 159,892 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AAOI. Northland Securities upped their price objective on shares of Applied Optoelectronics from $5.00 to $7.50 and gave the stock an “outperform” rating in a research report on Friday, September 16th. Cowen cut their price target on shares of Applied Optoelectronics to $4.00 in a report on Thursday, November 17th. B. Riley cut their price target on shares of Applied Optoelectronics from $3.20 to $2.80 in a report on Friday, August 5th. Finally, StockNews.com began coverage on shares of Applied Optoelectronics in a report on Wednesday, October 12th. They issued a “hold” rating for the company.

Applied Optoelectronics Price Performance

The stock’s fifty day moving average price is $2.67 and its 200-day moving average price is $2.30. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.71 and a current ratio of 1.43. The firm has a market cap of $60.78 million, a PE ratio of -0.99 and a beta of 1.39.

Insider Buying and Selling at Applied Optoelectronics

In other Applied Optoelectronics news, CEO Chih-Hsiang (Thompson) Lin bought 44,443 shares of the company’s stock in a transaction on Tuesday, November 8th. The stock was purchased at an average cost of $2.20 per share, for a total transaction of $97,774.60. Following the acquisition, the chief executive officer now owns 894,466 shares of the company’s stock, valued at approximately $1,967,825.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Applied Optoelectronics

Several hedge funds have recently added to or reduced their stakes in AAOI. UBS Group AG increased its holdings in Applied Optoelectronics by 201.6% during the 3rd quarter. UBS Group AG now owns 11,543 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 7,716 shares in the last quarter. Worth Venture Partners LLC acquired a new stake in shares of Applied Optoelectronics during the 3rd quarter worth about $54,000. XTX Topco Ltd acquired a new stake in shares of Applied Optoelectronics during the 1st quarter worth about $73,000. Alpha Paradigm Partners LLC acquired a new stake in shares of Applied Optoelectronics during the 3rd quarter worth about $104,000. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of Applied Optoelectronics during the 3rd quarter worth about $150,000. 34.47% of the stock is currently owned by hedge funds and other institutional investors.

Applied Optoelectronics Company Profile

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Applied Optoelectronics, Inc designs, manufactures, and sells various fiber-optic networking products worldwide. It offers optical modules, lasers, subassemblies, transmitters and transceivers, and turn-key equipment, as well as headend, node, and distribution equipment. The company sells its products to internet data center operators, cable television and telecom equipment manufacturers, and internet service providers through its direct and indirect sales channels.

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