After grabbing 1.21 million shares, the institutional investor is now in possession of 1.21 million shares of the Technology Company. The new investment brought the stake of investor firm to 4.16% having worth around $8.2 million. Moreover, Royce & Associates LP increased its share by 0.3 million to have a control over 1.0 million shares. And EAM Investors LLC raised its holdings to 0.76 million shares by acquiring 0.76 million shares or 2.59% of the stake.
Applied Optoelectronics Inc. (AAOI) concluded trading on 09/13/23 at a closing price of $9.12, with 6.63 million shares of worth about $60.46 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 242.86% during that period and on Wednesday the price saw a loss of about -19.72%. Currently the company’s common shares owned by public are about 32.13M shares, out of which, 30.55M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 3 analysts are covering the AAOI stock and their offered price forecasts bring an average price target of $15.75. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $20.00 and could fall to a lowest price of $11.50. The stock’s current price level is 42.1% above of average price target set by the analysts, while a rise to estimated low would result in gain of 20.7% for the stock. However, touching the estimated high of $20.00 would mean a gain of 54.4% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 135 times over the past 12 months. They bought 1,076,894 shares in 14 of the transactions. In 121 selling transactions, insiders dumped 509,045 shares.
Vanguard Total Stock Market ETF, Columbia Small Cap Value Fund I, and Fidelity Strategic Advisers Small are the top 3 mutual funds which are holding stakes in Applied Optoelectronics Inc. Vanguard Total Stock Market ETF is currently holding 0.83 million shares of worth totaling $5.6 million. The company recently came buying 0.0 shares which brought its stake up to 2.84% of the company’s outstanding shares. Columbia Small Cap Value Fund I sold -0.15 million shares, after which its hold over company’s outstanding shares shrunk to 2.23%, leaving 0.65 million shares with the mutual fund that have a worth of about $4.39 million. Fidelity Strategic Advisers Small, after buying 0.64 million shares, have now control over 2.20% of the stake in the company. It holds 0.64 million shares of worth $4.33 million.
Applied Optoelectronics Inc. (NASDAQ: AAOI) started trading at $9.75, below -$1.61 from concluding price of the previous day. However, the stock later moved at a day high price of 10.70, or with a loss of -19.72%. Stock saw a price change of -26.75% in past 5 days and over the past one month there was a price change of -38.54%. Year-to-date (YTD), AAOI shares are showing a performance of 382.54% which increased to 264.80% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.60 but also hit the highest price of $16.26 during that period. The average intraday trading volume for Applied Optoelectronics Inc. shares is 4.35 million. The stock is currently trading -32.30% below its 20-day simple moving average (SMA20), while that difference is down -15.54% for SMA50 and it goes to 100.66% higher than SMA200.
Portolan Capital Management LLC acquired 1.21 million shares of Applied Optoelectronics Inc. having value of about $8.2 million. Applied Optoelectronics Inc. (NASDAQ: AAOI) currently have 32.13M outstanding shares and institutions hold larger chunk of about 33.70% of that. Holding of mutual funds in the company is about 17.21% while other institutional holders and individual stake holders have control over 27.11% and 13.42% of the stake respectively.
The stock has a current market capitalization of $305.88M and its 3Y-monthly beta is at 1.70. It has posted earnings per share of -$2.41 in the same period. It has Quick Ratio of 0.40 while making debt-to-equity ratio of 0.77. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AAOI, volatility over the week remained 11.44% while standing at 11.78% over the month.
Analysts are in expectations that Applied Optoelectronics Inc. (AAOI) stock would likely to be making an EPS of -$0.05 in the current quarter, while forecast for next quarter EPS is -$0.04 and it is $0.4 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.06 which is -$0.04 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.26 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -18.50% while it is estimated to increase by 176.90% in next year. EPS is likely to grow at an annualized rate of 13.00% for next 5-years, compared to annual growth of -21.90% made by the stock over the past 5-years.
Analysts at 3 brokerage firms have issued recommendations for the Applied Optoelectronics Inc. (AAOI)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.30. Out of those 3 Wall Street analysts, 2 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by B. Riley Securities on August 04, 2023 offering a Buy rating for the stock and assigned a target price range of between $2.50 and $11.50 to it.