Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Applied Optoelectronics Inc shares valued at $398,283 were purchased by Lin Che-Wei on Mar 18 ’24. At $12.70 per share, Lin Che-Wei acquired 31,370 shares. The insider’s holdings grew to 220,133 shares worth approximately $2.64 million following the completion of this transaction.
Also, Lin Chih-Hsiang (Thompson) purchased 11,780 shares, netting a total of over 149,169 in proceeds. Following the buying of shares at $12.66 each, the insider now holds 1,218,160 shares.
Before that, Yeh William H had added 8,000 shares to its account. In a trade valued at $102,000, the Director bought Applied Optoelectronics Inc shares for $12.75 each. Upon closing the transaction, the insider’s holdings increased to 8,000 shares, worth approximately $2.48 million.
As published in a research note from B. Riley Securities on February 23, 2024, Applied Optoelectronics Inc [AAOI] has been rated down from a Buy to a Neutral and the price target has been revised to $16 from $22. Analysts at Rosenblatt started covering the stock with ‘”a Buy”‘ outlook in a report released in late January. As of December 13, 2023, B. Riley Securities has reiterated its “Buy” rating for AAOI. Earlier on August 04, 2023, B. Riley Securities upgraded its rating. Their new recommendation was “a Buy” for AAOI stock which previously was a “a Neutral”.
Analyzing AAOI Stock Performance
During the last five days, there has been a surge of approximately 1.96%. Over the course of the year, Applied Optoelectronics Inc shares have dropped approximately -37.99%. Shares of the company reached a 52-week high of $24.75 on 02/16/24 and a 52-week low of $10.85 on 04/15/24. A 50-day SMA is recorded $15.24, while a 200-day SMA reached $13.40. Nevertheless, trading volume fell to 2.54 million shares from 1.3 million shares the previous day.
Support And Resistance Levels for Applied Optoelectronics Inc (AAOI)
According to the 24-hour chart, there is a support level at 11.46, which, if violated, would cause prices to drop to 10.93. In the upper region, resistance lies at 12.85. The next price resistance is at 13.72. RSI (Relative Strength Index) is 38.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.78, which suggests the price will decrease in the coming days. Percent R is at 70.56%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
