In a recent transaction, Richard B. Black, a director at Applied Optoelectronics, Inc. (NASDAQ:AAOI), a $1.53 billion market cap company whose stock has surged approximately 182% over the past six months, sold 10,000 shares of common stock. According to InvestingPro analysis, the stock currently appears overvalued and trades with notably high price volatility. The shares were sold through The Richard B. Black Revocable Trust, with the transaction occurring on January 15, 2025. The shares were sold at an average price of $28.9951 per share, resulting in a total sale value of $289,951.
The shares were sold as part of a Rule 10b5-1 trading plan that Black adopted in August 2024. Following this transaction, Black holds 157,813 shares indirectly through the trust. The shares were sold in multiple transactions, with actual sale prices ranging from $28.6 to $29.37 per share.
In other recent news, Applied Optoelectronics has announced a construction contract with Chyi Ding Technologies Co., Ltd. for the expansion of its manufacturing capabilities. The company's Q3 2024 revenue saw a significant increase, reaching $65.2 million, despite a non-GAAP loss per share of $0.21 due to increased research and development costs. Rosenblatt Securities has raised its stock price target for Applied Optoelectronics, maintaining a Buy rating based on the company's future earnings potential. However, B.Riley has downgraded its rating for the company's stock from Neutral to Sell, citing concerns over a potential slowdown in the 400G market segment. Applied Optoelectronics has also initiated a patent infringement lawsuit against Eoptolink Technology USA Inc., and is seeking both monetary damages and a permanent injunction against Eoptolink. These recent developments reflect the company's strategic moves and financial performance.
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