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Alliance Fiber Optic Products (NASDAQ:AFOP) was the target of a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 1,979,270 shares, a decline of 26.3% from the July 15th total of 2,685,593 shares, ARN reports. Approximately 14.7% of the shares of the company are short sold. Based on an average trading volume of 827,417 shares, the days-to-cover ratio is presently 2.4 days.

AFOP has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Alliance Fiber Optic Products from a “neutral” rating to an “underperform” rating in a research note on Thursday, July 31st. They now have a $12.50 price target on the stock. Separately, analysts at B. Riley downgraded shares of Alliance Fiber Optic Products from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 29th. They now have a $18.00 price target on the stock, down previously from $22.00. Finally, analysts at Sidoti initiated coverage on shares of Alliance Fiber Optic Products in a research note on Thursday, July 3rd. They set a “buy” rating and a $28.00 price target on the stock.

Alliance Fiber Optic Products (NASDAQ:AFOP) opened at 14.21 on Friday. Alliance Fiber Optic Products has a one year low of $11.16 and a one year high of $23.94. The stock’s 50-day moving average is $16.03 and its 200-day moving average is $16.39. The company has a market cap of $264.5 million and a price-to-earnings ratio of 12.54.

Alliance Fiber Optic Products (NASDAQ:AFOP) last released its earnings data on Monday, July 28th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $24.20 million for the quarter, compared to the consensus estimate of $25.21 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 27.1% on a year-over-year basis. Analysts expect that Alliance Fiber Optic Products will post $1.29 EPS 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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