Applied Optoelectronics (NASDAQ:AAOI) Stock Price Passes Below Two Hundred Day Moving Average of $2.79

Shares of Applied Optoelectronics, Inc. (NASDAQ:AAOIGet Rating) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.79 and traded as low as $1.87. Applied Optoelectronics shares last traded at $1.97, with a volume of 341,522 shares trading hands.

Analyst Ratings Changes

Separately, B. Riley cut their target price on shares of Applied Optoelectronics from $3.20 to $2.80 in a research note on Friday.

Applied Optoelectronics Price Performance

The company has a debt-to-equity ratio of 0.35, a current ratio of 1.66 and a quick ratio of 0.87. The business’s 50-day simple moving average is $1.85 and its 200-day simple moving average is $2.78.

Applied Optoelectronics (NASDAQ:AAOIGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The semiconductor company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.10. Applied Optoelectronics had a negative net margin of 28.68% and a negative return on equity of 14.25%. The company had revenue of $52.24 million for the quarter, compared to analyst estimates of $52.84 million. During the same quarter in the prior year, the business posted ($0.30) EPS. On average, research analysts expect that Applied Optoelectronics, Inc. will post -1.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in Applied Optoelectronics by 240.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 189,964 shares of the semiconductor company’s stock valued at $693,000 after buying an additional 134,141 shares during the last quarter. PDT Partners LLC boosted its holdings in Applied Optoelectronics by 29.0% in the 1st quarter. PDT Partners LLC now owns 93,796 shares of the semiconductor company’s stock valued at $342,000 after purchasing an additional 21,061 shares during the period. Engineers Gate Manager LP boosted its holdings in Applied Optoelectronics by 55.8% in the 1st quarter. Engineers Gate Manager LP now owns 151,429 shares of the semiconductor company’s stock valued at $553,000 after purchasing an additional 54,257 shares during the period. Invesco Ltd. boosted its holdings in Applied Optoelectronics by 149.5% in the 1st quarter. Invesco Ltd. now owns 124,483 shares of the semiconductor company’s stock valued at $454,000 after purchasing an additional 74,589 shares during the period. Finally, XTX Topco Ltd bought a new stake in Applied Optoelectronics in the 1st quarter valued at $73,000. Institutional investors and hedge funds own 45.88% of the company’s stock.

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.

Further Reading

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