Applied Optoelectronics, Inc. (NASDAQ:AAOI) is a stock to watch today. At current price of $10.4, the shares have already added 0.33 points (3.19% higher) from its previous close of $10.07. The stock sets an active trading volume day with a reported 105981 contracts so far this session. AAOI shares had a relatively better volume day versus average trading capacity of 584.07 thousand shares, but with a 18.86 million float and a -1.52% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for AAOI stock indicates that the average analyst price target is $10 per share. This means the stock has a potential decrease of -3.85% from where the AAOI share price has been trading recently which is between $10.01 and $10.36. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $6.5. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $14.
During the recent trading session for Applied Optoelectronics, Inc. (NASDAQ:AAOI), the company witnessed their stock rise $0.15 over a week and tumble down $-1.14 from the price 20 days ago. When compared to their established 52-week high of $24.12, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/15/18. The recent low of $8.34 stood for a -56.9% since 08/28/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.08 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for AAOI is set at $10, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for Applied Optoelectronics, Inc., the two-week RSI stands at 47.62. This figure suggests that AAOI stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current AAOI readings is similarly very revealing as it has a stochastic reading of 25.49% at this stage. This figure means that AAOI share price today is being overbought.
Technical chart claims that Applied Optoelectronics, Inc. (AAOI) would settle between $10.29/share to $10.5/share level. However, if the stock price goes below the $9.94 mark, then the market for Applied Optoelectronics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $9.8 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.18. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at JP Morgan, assumed coverage of AAOI assigning Neutral rating, according to their opinion released on July 29. Rosenblatt analysts bumped their rating on Applied Optoelectronics, Inc. (NASDAQ:AAOI) stock from Sell to Neutral in a separate flash note issued to investors on June 27. Analysts at Raymond James lowered the stock to a Mkt Perform call from its previous Outperform recommendation, in a research note that dated back to February 22.
AAOI equity has an average rating of 3.08, with the figure leaning towards a bullish end. 9 analysts who tracked the company were contacted by Reuters. Amongst them, 7 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 0 analysts rated Applied Optoelectronics, Inc. (NASDAQ:AAOI) as a buy or a strong buy while 2 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, AAOI stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 22. Applied Optoelectronics, Inc. current P/B ratio of 0.6 means it is trading at a discount against its industry’s 4.5.
Applied Optoelectronics, Inc. (AAOI)’s current-quarter revenues are projected to climb by nearly -15.7% to hit $47.75 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -26.8% from $268360 to a noteworthy $196430. At the other end of the current quarter income statement, Applied Optoelectronics, Inc. is expected to see its adjusted earnings surge by roughly -271.4% to hit $-0.24 per share. For the fiscal year, AAOI’s earnings are projected to climb by roughly -191.3% to hit $-0.95 per share.