Rosenblatt slashes price target on Applied Optoelectronics Inc [AAOI] – find out why.

Applied Optoelectronics Inc [NASDAQ: AAOI] traded at a high on Thursday, posting a 7.33 gain after which it closed the day’ session at $22.41. The company report on February 1, 2024 at 4:10 PM that Applied Optoelectronics Announces Date of Fourth Quarter and Full Year 2023 Financial Results Conference Call.

Applied Optoelectronics will host a conference call and webcast for analysts and investors to discuss its fourth quarter and full year 2023 financial results and outlook for its first quarter 2024 at 4:30 p.m. Eastern Time / 3:30 p.m. Central Time the same day. To participate in the call, please dial 844-890-1794 and ask to be joined to the Applied Optoelectronics call.

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The results of the trading session contributed to over 3713884 shares changing hands. Over the past one week, the price volatility of Applied Optoelectronics Inc stands at 10.28% while the volatility over the past one month is 9.65%.

The market cap for AAOI stock reached $796.45 million, with 35.54 million shares outstanding and 32.81 million shares in the current float. Compared to the average trading volume of 3.22M shares, AAOI reached a trading volume of 3713884 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Applied Optoelectronics Inc [AAOI]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AAOI shares is $21.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AAOI stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Rosenblatt have made an estimate for Applied Optoelectronics Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 30, 2024.

The Average True Range (ATR) for Applied Optoelectronics Inc is set at 1.95, with the Price to Sales ratio for AAOI stock in the period of the last 12 months amounting to 3.64. The Price to Book ratio for the last quarter was 4.31, with the Price to Cash per share for the same quarter was set at 0.88.

How has AAOI stock performed recently?

Applied Optoelectronics Inc [AAOI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.63. With this latest performance, AAOI shares gained by 32.92% in over the last four-week period, additionally plugging by 71.99% over the last 6 months – not to mention a rise of 730.00% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AAOI stock in for the last two-week period is set at 62.38, with the RSI for the last a single of trading hit 66.66, and the three-weeks RSI is set at 59.98 for Applied Optoelectronics Inc [AAOI]. The present Moving Average for the last 50 days of trading for this stock 19.13, while it was recorded at 20.62 for the last single week of trading, and 11.00 for the last 200 days.

Applied Optoelectronics Inc [AAOI]: Deeper insight into the fundamentals

Applied Optoelectronics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.51 and a Current Ratio set at 0.87.

Earnings analysis for Applied Optoelectronics Inc [AAOI]

With the latest financial reports released by the company, Applied Optoelectronics Inc posted -0.19/share EPS, while the average EPS was predicted by analysts to be reported at -0.3/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 36.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AAOI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Applied Optoelectronics Inc go to 13.00%.

Insider trade positions for Applied Optoelectronics Inc [AAOI]

The top three institutional holders of AAOI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AAOI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AAOI stock with ownership which is approximately 5.8325%.