In Friday’s Wall Street session, Applied Optoelectronics Inc (NASDAQ:AAOI) shares traded at $10.22, down -3.04% from the previous session.
AAOI stock price is now -19.80% away from the 50-day moving average and -24.94% away from the 200-day moving average. The market capitalization of the company currently stands at $395.82M.
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With the price target reduced from $22 to $16, B. Riley Securities Downgraded its rating from Buy to Neutral for Applied Optoelectronics Inc (NASDAQ: AAOI). On January 30, 2024, Rosenblatt recently initiated its ‘Buy’ rating on the stock quoting a target price of $23, while ‘B. Riley Securities’ rates the stock as ‘Buy’
In other news, Lin Che-Wei, Director bought 31,370 shares of the company’s stock on Mar 18 ’24. The stock was bought for $398,283 at an average price of $12.70. Upon completion of the transaction, the Director now directly owns 220,133 shares in the company, valued at $2.25 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 18 ’24, President and CEO Lin Chih-Hsiang (Thompson) bought 11,780 shares of the business’s stock. A total of $149,169 was incurred on buying the stock at an average price of $12.66. This leaves the insider owning 1,218,160 shares of the company worth $12.45 million. A total of 7.72% of the company’s stock is owned by insiders.
During the past 12 months, Applied Optoelectronics Inc has had a low of $1.64 and a high of $24.75. As of last week, the company has a debt-to-equity ratio of 0.60, a current ratio of 1.79, and a quick ratio of 1.06.
The net profit margin was -30.65% and return on equity was -34.16% for AAOI. The company reported revenue of $40.67 million for the quarter, compared to $53.03 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -23.3 percent.
Applied Optoelectronics Inc(AAOI) 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. The company sells its products to internet data center operators, cable television, telecom equipment manufacturers, fiber-to-the-home, and internet service providers through its direct and indirect sales channels. Applied Optoelectronics, Inc. was incorporated in 1997 and is headquartered in Sugar Land, Texas.
