After grabbing 1.52 million shares, the institutional investor is now in possession of 1.52 million shares of the Technology Company. The new investment brought the stake of investor firm to 4.28% having worth around $20.15 million. Moreover, Driehaus Capital Management LLC increased its share by 1.38 million to have a control over 1.38 million shares. And The Vanguard Group, Inc. raised its holdings to 0.1 million shares by acquiring 1.3 million shares or 3.66% of the stake.
Applied Optoelectronics Inc (AAOI) concluded trading on 12/21/23 at a closing price of $20.74, with 3.51 million shares of worth about $72.79 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 377.88% during that period and on Thursday the price saw a gain of about 0.58%. Currently the company’s common shares owned by public are about 35.54M shares, out of which, 32.69M shares are available for trading.
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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 $21.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $22.00 and could fall to a lowest price of $20.00. The stock’s current price level is 1.24% above of average price target set by the analysts, while a rise to estimated low would result in loss of -3.7% for the stock. However, touching the estimated high of $22.00 would mean a gain of 5.73% 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 136 times over the past 12 months. They bought 1,159,565 shares in 20 of the transactions. In 116 selling transactions, insiders dumped 478,050 shares.
Vanguard Total Stock Market ETF, Hood River Small-Cap Growth Fund, 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 0.94 million shares of worth totaling $12.51 million. The company recently came buying 92980.0 shares which brought its stake up to 2.66% of the company’s outstanding shares. Fidelity Strategic Advisers Small, after buying 0.61 million shares, have now control over 1.71% of the stake in the company. It holds 0.15 million shares of worth $8.07 million.
Applied Optoelectronics Inc (NASDAQ: AAOI) started trading at $21.19, above $0.57 from concluding price of the previous day. However, the stock later moved at a day high price of 21.86, or with a gain of 0.58%. Stock saw a price change of -10.56% in past 5 days and over the past one month there was a price change of 55.59%. Year-to-date (YTD), AAOI shares are showing a performance of 997.35% which increased to 838.46% 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 $24.08 during that period. The average intraday trading volume for Applied Optoelectronics Inc shares is 2.43 million. The stock is currently trading 16.15% above its 20-day simple moving average (SMA20), while that difference is up 64.24% for SMA50 and it goes to 164.46% higher than SMA200.
Hood River Capital Management LLC acquired 1.52 million shares of Applied Optoelectronics Inc having value of about $20.15 million. Applied Optoelectronics Inc (NASDAQ: AAOI) currently have 35.54M outstanding shares and institutions hold larger chunk of about 46.84% of that. Holding of mutual funds in the company is about 19.43% while other institutional holders and individual stake holders have control over 25.03% and 11.94% of the stake respectively.
The stock has a current market capitalization of $737.10M and its 3Y-monthly beta is at 2.01. It has posted earnings per share of -$2.12 in the same period. It has Quick Ratio of 0.51 while making debt-to-equity ratio of 0.74. 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 10.94% while standing at 11.07% over the month.
Analysts are in expectations that Applied Optoelectronics Inc (AAOI) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter EPS is $0 and it is $0.49 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.02 which is $0.02 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 -$0.19 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 51.82% while it is estimated to increase by 200.00% in next year.
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 “Strong Buy” and assign it a score of 1.67. 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 December 13, 2023 offering a Buy rating for the stock and assigned a target price range of between $13.50 and $22 to it.
