Applied Optoelectronics, Inc. (AAOI - Free Report) was a big mover last session, as the company saw its shares rise over 7% on the day. The move came after the company preannounced better-than-expected second-quarter 2017 profit. This also led to far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $58.44 to $72.64 in the past one-month time frame.
The company has seen one positive estimate revision in the last 30 days and the Zacks Consensus Estimate also moved higher suggesting more solid trading ahead. So make sure to keep an eye on this stock going forward to see if yesterday’s jump can turn into more strength down the road.
Currently, Applied Optoelectronics flaunts a Zacks Rank #1 (Strong Buy), while its Earnings ESP is positive.
Another similarly-ranked stock in the same industry is Broadcom Limited (AVGO - Free Report) . You can see the complete list of today’s Zacks #1 Rank stocks here.
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