In the last trading session, 2.44 million shares of the Applied Optoelectronics Inc (NASDAQ:AAOI) were traded, and its beta was 2.04. Most recently the company’s share price was $13.86, and it changed around -$0.1 or -0.72% from the last close, which brings the market valuation of the company to $532.22M. AAOI currently trades at a discount to its 52-week high of $24.75, offering almost -78.57% off that amount. The share price’s 52-week low was $1.60, which indicates that the current value has risen by an impressive 88.46% since then. We note from Applied Optoelectronics Inc’s average daily trading volume that its 10-day average is 1.69 million shares, with the 3-month average coming to 3.22 million.
Applied Optoelectronics Inc stock received a consensus recommendation rating of Buy, based on a mean score of 2.00. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended AAOI as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Applied Optoelectronics Inc is expected to report earnings per share of -$0.29 for the current quarter.
Applied Optoelectronics Inc (NASDAQ:AAOI) trade information
Instantly AAOI has showed a red trend with a performance of -0.72% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -28.26% year-to-date, but still down -7.10% over the last five days. On the other hand, Applied Optoelectronics Inc (NASDAQ:AAOI) is -1.56% down in the 30-day period. We can see from the shorts that 8.86 million shares have been sold at a short interest cover period of 2.22 day(s).
The consensus price target as assigned by Wall Street analysts is $14, which translates to bulls needing to increase their stock price by 1.0% from its current value. Analyst projections state that AAOI is forecast to be at a low of $7.5 and a high of $23.
Applied Optoelectronics Inc (AAOI) estimates and forecasts
Applied Optoelectronics Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 34.82 percent over the past six months and at a 107.14% annual growth rate that is well above the industry average of 1.10%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -16.00% in revenue this quarter, and will report an increase of 42.90% in the next quarter. The year-over-year growth rate is expected to be 32.30%, up from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $43.59 million in revenue for the current quarter. 4 analysts expect Applied Optoelectronics Inc to make $57.19 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $53.03 million and $45.43 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -17.80%. Forecasts for the next quarter put sales growth at 25.90%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -74.26%. Applied Optoelectronics Inc earnings are expected to increase by 77.88% in 2024, but the outlook is positive 13.00% per year for the next five years.
AAOI Dividends
Applied Optoelectronics Inc’s next quarterly earnings report is expected to be released around May 02 and May 06.
Applied Optoelectronics Inc (NASDAQ:AAOI)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 4.24% of Applied Optoelectronics Inc shares, and 67.97% of them are in the hands of institutional investors. The stock currently has a share float of 70.99%. Applied Optoelectronics Inc stock is held by 138 institutions, with Driehaus Capital Management, LLC being the largest institutional investor. By Dec 30, 2023, it held 7.20% of the shares, which is about 2.77 million shares worth $38.34 million.
Portolan Capital Management, LLC, with 4.01% or 1.54 million shares worth $21.33 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Oberweis Micro-Cap Portfolio were the top two Mutual Funds as of Dec 30, 2023. The former held 0.94 million shares worth $13.08 million, making up 2.46% of all outstanding shares. On the other hand, Oberweis Micro-Cap Portfolio held roughly 0.85 million shares worth around $11.78 million, which represents about 2.21% of the total shares outstanding.
