Insider Buying: Advanced Photonix Director Purchases 8,500 Shares of Stock (API)
Advanced Photonix (NYSE:API) Director Donald Pastor acquired 8,500 shares of Advanced Photonix stock on the open market in a transaction that occurred on Monday, August 18th. The shares were purchased at an average cost of $0.50 per share, for a total transaction of $4,250.00. Following the completion of the transaction, the director now directly owns 166,283 shares in the company, valued at approximately $83,142. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
API has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Advanced Photonix from an “underperform” rating to a “neutral” rating in a research note on Tuesday, August 12th. They now have a $0.50 price target on the stock. Analysts at B. Riley upgraded shares of Advanced Photonix from a “neutral” rating to a “buy” rating in a research note on Thursday, June 12th. They now have a $0.80 price target on the stock, up previously from $0.75.
Advanced Photonix (NYSE:API) traded up 6.12% on Tuesday, hitting $0.52. 32,745 shares of the company’s stock traded hands. Advanced Photonix has a 1-year low of $0.40 and a 1-year high of $0.88. The stock has a 50-day moving average of $0.52 and a 200-day moving average of $0.57. The company’s market cap is $19.4 million.
Advanced Photonix (NYSE:API) last posted its quarterly earnings results on Monday, June 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by $0.02. The company had revenue of $7.00 million for the quarter, compared to the consensus estimate of $7.04 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. On average, analysts predict that Advanced Photonix will post $0.02 earnings per share for the current fiscal year.
Advanced Photonix, Inc (NYSE:API) is engaged in the development and manufacture of optoelectronic devices and value-added sub-systems and systems.
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