Applied Optoelectronics Inc. (AAOI) lost ground during morning trading on September 22 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the technology sector halfway through the trading day. At the lunch break, shares of AAOI have fallen 3.22% to $21.06 after closing the day prior at $21.76. So far, the stock has traded as high as $22.47 and as low as $20.71. Today’s decline has come with about 408,746 shares changing hands, compared to an average 30-day volume of 506,777 for Applied Optoelectronics Inc.. The price is currently below the 30-day volume weighted average price of $21.55 for AAOI.
The share depreciation gives the company a market capitalization of $372.97 million based upon 17.14 million shares outstanding. It also means that AAOI has a price-to-book ratio of 2.23:1.
In the past 52 weeks, shares of AAOI have traded as low as $8.08 and as high as $22.32. Technical traders will take note that at $21.06, shares of AAOI are trading above their 200-day MA at $14.23 and above their 50-day MA at $15.29. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is AAOI?
Applied Optoelectronics Inc is a vertically integrated provider of fiber-optic networking products, for three networking markets: cable television, fiber-to-the-home and internet data center such as components, sub-assemblies and modules, among others. The company’s 2513 employees are led by CEO Chih-Hsiang Thompson Lin from the corporate headquarters at 13115 Jess Pirtle Boulevard in Sugar Land, TX.
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