Applied Optoelectronics shares are trading lower after the company reported Q4 financial results and issued guidance. Following earnings, B. Riley Seucrities downgraded the stock from Buy to Neutral and lowered its price target from $22 to $16.
Portfolio Pulse from Benzinga Newsdesk
Applied Optoelectronics' shares dropped after reporting Q4 results and future guidance. B. Riley Securities downgraded the stock from Buy to Neutral and reduced the price target from $22 to $16.
February 23, 2024 | 1:44 pm
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NEGATIVE IMPACT
Applied Optoelectronics' stock price is likely to experience short-term pressure following its Q4 earnings report, future guidance, and a downgrade by B. Riley Securities.
The negative reaction to Applied Optoelectronics' Q4 financial results and the subsequent downgrade by B. Riley Securities are clear indicators of potential short-term bearish sentiment. The reduction in the price target from $22 to $16 by a notable analyst firm further underscores the expected downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100