Applied Optoelectronics Inc (NASDAQ: AAOI) stock jumped 13.41% on Monday to $14.46 against a previous-day closing price of $12.75. With 4.64 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.22 million shares. During the session, the Communication Equipment company that operates in wider Technology sector, reached to the highest price of $14.63 whereas the lowest price it dropped to was $12.85. The 52-week range on AAOI shows that it touched its highest point at $16.26 and its lowest point at $1.60 during that stretch. It currently has a 1-year price target of $16.75. Beta for the stock currently stands at 1.95.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AAOI was up-trending over the past week, with a rise of 31.45%, but this was up by 109.26% over a month. Three-month performance dropped to -6.59% while six-month performance rose 721.59%. The stock gained 560.27% in the past year, while it has gained 665.08% so far this year. A look at the trailing 12-month EPS for AAOI yields -2.12 with Next year EPS estimates of 0.51. For the next quarter, that number is -0.01. This implies an EPS growth rate of 51.82% for this year and 204.79% for next year.
Float and Shares Shorts:
At present, 35.54 million AAOI shares are outstanding with a float of 32.47 million shares on hand for trading. On Oct 30, 2023, short shares totaled 7.44 million, which was 22.31% higher than short shares on Sep 28, 2023. In addition to Dr. Chih-Hsiang Lin Ph.D. as the firm’s Founder, Chairman of the Board, President & CEO, Dr. Stefan J. Murry Ph.D. serves as its CFO & Chief Strategy Officer.
Through their ownership of 30.67% of AAOI’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 30.04% of AAOI, in contrast to 17.36% held by mutual funds. Shares owned by individuals account for 12.84%. As the largest shareholder in AAOI with 4.56% of the stake, Hood River Capital Management LLC holds 1,520,393 shares worth 1,520,393. A second-largest stockholder of AAOI, Driehaus Capital Management LLC, holds 1,380,264 shares, controlling over 4.14% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in AAOI, holding 1,300,582 shares or 3.90% stake. With a 2.83% stake in AAOI, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 943,878 shares are owned by the mutual fund manager. The Royce Micro Cap Fund, which owns about 1.63% of AAOI stock, is the second-largest Mutual Fund holder. It holds 543,100 shares valued at 4.04 million. Heptagon Fund ICAV – Driehaus US holds 1.61% of the stake in AAOI, owning 535,730 shares worth 3.98 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AAOI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With AAOI analysts setting a high price target of $20.00 and a low target of $13.50, the average target price over the next 12 months is $16.75. Based on these targets, AAOI could surge 38.31% to reach the target high and fall by -6.64% to reach the target low. Reaching the average price target will result in a growth of 15.84% from current levels.
Summary of Insider Activity:
Insiders traded AAOI stock several times over the past three months with 6 Buys and 6 Sells. In these transactions, 111,312 shares were bought while 97,343 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 98 over the past year. The total number of shares bought during that period was 1,159,565 while 485,743 shares were sold.