Applied Optoelectronics Inc (NASDAQ: AAOI) Stock Forecast for 2023 with -56.86% Downside

In the last trading session, 2.09 million Applied Optoelectronics Inc (NASDAQ:AAOI) shares changed hands as the company’s beta touched 1.96. With the company’s per share price at $12.75 changed hands at -$0.08 or -0.62% during last session, the market valuation stood at $453.13M. AAOI’s last price was a discount, traded about -27.53% off its 52-week high of $16.26. The share price had its 52-week low at $1.60, which suggests the last value was 87.45% up since then. When we look at Applied Optoelectronics Inc’s average trading volume, we note the 10-day average is 2.54 million shares, with the 3-month average coming to 2.23 million.

Analysts gave the Applied Optoelectronics Inc (AAOI) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.67. If we narrow down to specifics, the data shows that 0 out of 3 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended AAOI as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Applied Optoelectronics Inc’s EPS for the current quarter is expected to be -$0.01.

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Applied Optoelectronics Inc (NASDAQ:AAOI) trade information

Instantly AAOI was in red as seen at the end of in last trading. With action 36.15%, the performance over the past five days has been green. The drop to weekly highs of 13.27 on Friday, 11/17/23 subtracted -0.62% to the stock’s daily price. The company’s shares are showing year-to-date upside of 574.60%, with the 5-day performance at 36.15% in the green. However, in the 30-day time frame, Applied Optoelectronics Inc (NASDAQ:AAOI) is 71.14% up. Looking at the short shares, we see there were 7.44 million shares sold at short interest cover period of 4.75 days.

The consensus price target for the stock as assigned by Wall Street analysts is $16.75, meaning bulls need an upside of 23.88% from its current market value. According to analyst projections, AAOI’s forecast low is $13.50 with $20.00 as the target high. To hit the forecast high, the stock’s price needs a -56.86% plunge from its current level, while the stock would need to soar -5.88% for it to hit the projected low.

Applied Optoelectronics Inc (AAOI) estimates and forecasts

Data shows that the Applied Optoelectronics Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 645.61% over the past 6 months, a 48.51% in annual growth rate that is considerably higher than the industry average of -10.60%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Applied Optoelectronics Inc will rise 94.70%, while the growth in revenue is estimated to hit 96.00% for the next quarter. Year-over-year growth is forecast to reach -0.30% down from the last financial year.

Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $65.09 million. 3 analysts are of the opinion that Applied Optoelectronics Inc’s revenue for the quarter ending Mar 2024 will be $68.19 million. The company’s revenue for the corresponding quarters a year ago was $61.58 million and $53.03 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 5.70%. The estimates for the next quarter sales put growth at 28.60%.

The 2023 estimates are for Applied Optoelectronics Inc earnings to increase by 51.82%, but the outlook for the next 5-year period is at 13.00% per year.

AAOI Dividends

Applied Optoelectronics Inc is expected to release its next quarterly earnings report on November 09.

Applied Optoelectronics Inc (NASDAQ:AAOI)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 8.46% of Applied Optoelectronics Inc shares while 30.67% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 33.50%. There are 30.67% institutions holding the Applied Optoelectronics Inc stock share, with Ameriprise Financial, Inc. the top institutional holder. As of Jun 29, 2023, the company held 3.81% of the shares, roughly 1.27 million AAOI shares worth $7.56 million.

Portolan Capital Management, LLC holds the second largest percentage of outstanding shares, with 3.65% or 1.21 million shares worth $7.24 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Columbia Fds Ser Tr I-Columbia Small Cap Value Fd I. With 0.83 million shares estimated at $4.94 million under it, the former controlled 2.49% of total outstanding shares. On the other hand, Columbia Fds Ser Tr I-Columbia Small Cap Value Fd I held about 1.95% of the shares, roughly 0.65 million shares worth around $4.39 million.

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