Applied Optoelectronics (NASDAQ:AAOI) Shares Pass Below Two Hundred Day Moving Average of $11.53

Applied Optoelectronics, Inc. (NASDAQ:AAOI) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.53 and traded as low as $9.13. Applied Optoelectronics shares last traded at $10.30, with a volume of 3,665,754 shares.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. B. Riley decreased their price target on Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Rosenblatt Securities restated a “buy” rating and issued a $15.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 22nd. B. Riley Financial restated a “neutral” rating and issued a $9.00 price target on shares of Applied Optoelectronics in a report on Thursday, August 8th. Finally, StockNews.com upgraded Applied Optoelectronics to a “sell” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $13.25.

Applied Optoelectronics Price Performance

The company has a quick ratio of 1.06, a current ratio of 1.79 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $400.75 million, a P/E ratio of -5.66 and a beta of 1.97. The business has a 50 day simple moving average of $8.77 and a 200-day simple moving average of $11.53.

Applied Optoelectronics (NASDAQ:AAOI) last issued its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.01. Applied Optoelectronics had a negative net margin of 30.65% and a negative return on equity of 16.30%. The business had revenue of $43.27 million for the quarter, compared to analysts’ expectations of $44.14 million. During the same period in the previous year, the business earned ($0.31) earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. Analysts predict that Applied Optoelectronics, Inc. will post -0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Applied Optoelectronics

Hedge funds and other institutional investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co bought a new stake in Applied Optoelectronics in the first quarter worth about $46,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Applied Optoelectronics by 272.1% in the 2nd 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 in the last quarter. Point72 Hong Kong Ltd purchased a new position in Applied Optoelectronics in the 2nd quarter worth about $89,000. Truvestments Capital LLC purchased a new position in Applied Optoelectronics in the 1st quarter worth about $161,000. Finally, Summit Securities Group LLC purchased a new position in Applied Optoelectronics in the 2nd quarter worth about $109,000. 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.