Applied Optoelectronics, Inc. (NASDAQ:AAOI) Sees Significant Growth in Short Interest

Applied Optoelectronics, Inc. (NASDAQ:AAOI) was the recipient of a large growth in short interest in August. As of August 15th, there was short interest totalling 10,390,000 shares, a growth of 6.8% from the July 31st total of 9,730,000 shares. Based on an average daily volume of 1,980,000 shares, the short-interest ratio is currently 5.2 days.

Applied Optoelectronics Stock Up 10.2 %

Shares of NASDAQ:AAOI opened at $11.35 on Monday. The company has a 50 day moving average of $8.82 and a 200-day moving average of $11.35. Applied Optoelectronics has a one year low of $6.66 and a one year high of $24.75. The stock has a market cap of $464.22 million, a price-to-earnings ratio of -6.24 and a beta of 1.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.64 and a quick ratio of 0.97.

Applied Optoelectronics (NASDAQ:AAOI) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.01. Applied Optoelectronics had a negative net margin of 34.84% and a negative return on equity of 19.82%. The company had revenue of $43.27 million during the quarter, compared to analysts’ expectations of $44.14 million. During the same quarter in the previous year, the company posted ($0.31) EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, sell-side analysts forecast that Applied Optoelectronics will post -1.08 earnings per share for the current year.

Hedge Funds Weigh In On Applied Optoelectronics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co bought a new position in Applied Optoelectronics during the 1st quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Applied Optoelectronics by 272.1% during the second 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 acquired a new position in shares of Applied Optoelectronics in the 2nd quarter valued at $89,000. Summit Securities Group LLC bought a new stake in shares of Applied Optoelectronics in the 2nd quarter valued at $109,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Applied Optoelectronics during the 2nd quarter worth $118,000. Institutional investors own 61.72% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AAOI. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 price target on shares of Applied Optoelectronics in a research report on Thursday, August 22nd. StockNews.com upgraded shares of Applied Optoelectronics to a “sell” rating in a research report on Friday, August 9th. B. Riley dropped their price objective on shares of Applied Optoelectronics from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, B. Riley Financial reiterated a “neutral” rating and issued a $9.00 price objective on shares of Applied Optoelectronics in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $11.00.

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.