Applied Optoelectronics Sharply Higher After Q3 Beat

Loading...
Loading...

Applied Optoelectronics Inc AAOI shares are trading higher by $6.40 at $44.29 in Wednesday's session.

After Tuesday's close, the company reported a Q3 adjusted EPS beat of 6 cents along with a sales beat of $1.4 million. At this time, the Street isn't concerned with its lower Q4 guidance.

After a higher open, AAOI had a $1.00 retreat to $39.10 before continuing its move higher. The ensuing rally took the stock to $44.64 and it's not far off that level. That high coincides with its Oct. 18 high ($44.59), but is shy of its Oct. 17 high ($45.50).

Posted In: TechnicalsIntraday UpdateMoversTrading Ideas
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...