Insider Buying: Charles J. Abbe Buys 40,000 Shares of NeoPhotonics Corp Stock (NPTN)
NeoPhotonics Corp (NASDAQ:NPTN) Director Charles J. Abbe bought 40,000 shares of the company’s stock on the open market in a transaction dated Thursday, August 14th. The shares were purchased at an average price of $2.69 per share, for a total transaction of $107,600.00. Following the completion of the acquisition, the director now directly owns 40,000 shares in the company, valued at approximately $107,600. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Shares of NeoPhotonics Corp (NASDAQ:NPTN) traded down 3.24% on Friday, hitting $2.69. 87,827 shares of the company’s stock traded hands. NeoPhotonics Corp has a 52-week low of $2.20 and a 52-week high of $8.50. The stock’s 50-day moving average is $3.3 and its 200-day moving average is $5.57. The company’s market cap is $87.6 million.
NeoPhotonics Corp (NASDAQ:NPTN) last released its earnings data on Thursday, August 7th. The company reported ($0.24) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.20) by $0.04. During the same quarter in the previous year, the company posted ($0.11) earnings per share. Analysts expect that NeoPhotonics Corp will post $-0.69 EPS for the current fiscal year.
A number of analysts have recently weighed in on NPTN shares. Analysts at Piper Jaffray reiterated an “overweight” rating on shares of NeoPhotonics Corp in a research note on Friday, August 8th. They now have a $4.00 price target on the stock, down previously from $5.00. Separately, analysts at Needham & Company LLC cut their price target on shares of NeoPhotonics Corp from $10.00 to $7.00 in a research note on Monday, June 23rd. They now have a “buy” rating on the stock. Finally, analysts at B. Riley reiterated a “buy” rating on shares of NeoPhotonics Corp in a research note on Tuesday, June 17th. They now have a $7.75 price target on the stock, down previously from $9.00. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $5.81.
NeoPhotonics Corporation is a designer and manufacturer of photonic integrated circuit (NASDAQ:NPTN)-based modules and subsystems for bandwidth-intensive, high-speed communications networks.
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