B. Riley Increases Alliance Fiber Optic Products Price Target to $20.00 (AFOP)
Equities researchers at B. Riley raised their price objective on shares of Alliance Fiber Optic Products (NASDAQ:AFOP) from $19.00 to $20.00 in a research report issued on Friday, StockRatingsNetwork reports. The firm currently has a “neutral” rating on the stock. B. Riley’s target price indicates a potential downside of 0.60% from the company’s current price.
Alliance Fiber Optic Products (NASDAQ:AFOP) traded up 15.17% during mid-day trading on Friday, hitting $20.12. The stock had a trading volume of 3,778,168 shares. Alliance Fiber Optic Products has a 1-year low of $8.80 and a 1-year high of $42.50. The stock’s 50-day moving average is $34.67 and its 200-day moving average is $22.60. The company has a market cap of $363.5 million and a P/E ratio of 22.93.
Alliance Fiber Optic Products (NASDAQ:AFOP) last announced its earnings results on Thursday, October 24th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $23.07 million for the quarter, compared to the consensus estimate of $22.20 million. Alliance Fiber Optic Products’s revenue was up 86.2% compared to the same quarter last year. On average, analysts predict that Alliance Fiber Optic Products will post $0.97 earnings per share for the current fiscal year.
Alliance Fiber Optic Products Inc (NASDAQ:AFOP) designs, manufactures and markets a range of fiber optic components, and integrated modules incorporating these components, for communications equipment manufacturers and service providers.
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