In the last trading session, 4.01 million shares of the Applied Optoelectronics Inc (NASDAQ:AAOI) were traded, and its beta was 1.97. Most recently the company’s share price was $15.67, and it changed around -$0.93 or -5.60% from the last close, which brings the market valuation of the company to $640.90M. AAOI currently trades at a discount to its 52-week high of $24.75, offering almost -57.95% off that amount. The share price’s 52-week low was $6.70, which indicates that the current value has risen by an impressive 57.24% since then. We note from Applied Optoelectronics Inc’s average daily trading volume that its 10-day average is 2.48 million shares, with the 3-month average coming to 2.47 million.
Applied Optoelectronics Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.75. If we narrow it down even further, the data shows that 2 out of 9 analysts rate the stock as a Sell; another 3 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 -0.17 for the current quarter.
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Applied Optoelectronics Inc (NASDAQ:AAOI) trade information
Instantly AAOI has showed a red trend with a performance of -5.60% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 18.55 on recent trading dayincreased the stock’s daily price by 15.53%. The company’s shares are currently down -18.89% year-to-date, but still down -11.12% over the last five days. On the other hand, Applied Optoelectronics Inc (NASDAQ:AAOI) is 9.50% up in the 30-day period. We can see from the shorts that 10.92 million shares have been sold at a short interest cover period of 4.44 day(s).
The consensus price target as assigned by Wall Street analysts is $17.5, which translates to bulls needing to increase their stock price by 10.46% from its current value. Analyst projections state that AAOI is forecast to be at a low of $11.5 and a high of $23.
Applied Optoelectronics Inc (AAOI) estimates and forecasts
Applied Optoelectronics Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 59.09 percent over the past six months and at a -61.90% annual growth rate that is well below the industry average of -3.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -240.00% in revenue this quarter, and will report an increase of 50.00% in the next quarter. The year-over-year growth rate is expected to be 12.60%, up from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of 62.6M in revenue for the current quarter. 4 analysts expect Applied Optoelectronics Inc to make 98.55M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 62.55M and 60.45M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 0.10%. Forecasts for the next quarter put sales growth at 63.00%.
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 -60.40% 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 in November.
Applied Optoelectronics Inc (NASDAQ:AAOI)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 5.73% of Applied Optoelectronics Inc shares, and 71.86% of them are in the hands of institutional investors. The stock currently has a share float of 76.22%. Applied Optoelectronics Inc stock is held by 183.0 institutions, with BLACKROCK INC. being the largest institutional investor. By 2024-06-30, it held 7.8533% of the shares, which is about 3.01 million shares worth $24.98 million.
AMERIPRISE FINANCIAL INC, with 5.6214% or 2.16 million shares worth $17.88 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
