Shares of Applied Optoelectronics Inc. (NASDAQ:AAOI) shot up 2.1% during mid-day trading on Thursday . The stock traded as high as $11.20 and last traded at $11.00, with a volume of 92,571 shares changing hands. The stock had previously closed at $10.77.

Several brokerages have recently issued reports on AAOI. Cowen and Company reiterated a “buy” rating on shares of Applied Optoelectronics in a research report on Tuesday, May 10th. Zacks Investment Research lowered shares of Applied Optoelectronics from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 21st. Finally, Piper Jaffray Cos. restated a “buy” rating and set a $14.00 price target (down from $21.00) on shares of Applied Optoelectronics in a research report on Tuesday, May 10th. Two equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $20.80.

The firm’s 50-day moving average is $10.43 and its 200-day moving average is $13.66. The stock has a market cap of $192.97 million and a P/E ratio of 19.02.

Applied Optoelectronics (NASDAQ:AAOI) last announced its quarterly earnings data on Monday, May 9th. The company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.08. The business had revenue of $50.40 million for the quarter, compared to the consensus estimate of $51.03 million. The business’s revenue was up 66.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.02 EPS. Equities research analysts predict that Applied Optoelectronics Inc. will post $0.42 earnings per share for the current fiscal year.

In other news, Director Min-Chu (Mike) Chen acquired 10,000 shares of the business’s stock in a transaction on Friday, May 27th. The stock was bought at an average price of $9.98 per share, for a total transaction of $99,800.00. Following the transaction, the director now owns 13,262 shares in the company, valued at $132,354.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan D. Moore acquired 105,000 shares of the business’s stock in a transaction on Thursday, June 16th. The shares were purchased at an average price of $10.08 per share, with a total value of $1,058,400.00. Following the transaction, the director now owns 222,542 shares in the company, valued at approximately $2,243,223.36. The disclosure for this purchase can be found here.

An institutional investor recently raised its position in Applied Optoelectronics stock. Russell Frank Co raised its stake in shares of Applied Optoelectronics Inc. (NASDAQ:AAOI) by 187.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 387,812 shares of the company’s stock after buying an additional 253,115 shares during the period. Russell Frank Co owned 2.30% of Applied Optoelectronics worth $6,903,000 as of its most recent filing with the SEC.

Applied Optoelectronics, Inc is a vertically integrated provider of fiber-optic networking products, primarily for three networking end-markets: Internet data center, cable television (CATV) and fiber-to-the-home (FTTH). The Company designs and manufactures optical communications products at varying levels of integration, from components, subassemblies and modules to turn-key equipment.

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