Insider Buying: Advanced Photonix Director Acquires 10,000 Shares of Stock (API)
Advanced Photonix (NYSE:API) Director M Scott Farese bought 10,000 shares of Advanced Photonix stock on the open market in a transaction that occurred on Thursday, August 28th. The shares were purchased at an average price of $0.50 per share, with a total value of $5,000.00. Following the transaction, the director now directly owns 189,360 shares in the company, valued at approximately $94,680. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Advanced Photonix (NYSE:API) traded up 5.63% on Tuesday, hitting $0.5176. The stock had a trading volume of 39,203 shares. Advanced Photonix has a one year low of $0.40 and a one year high of $0.88. The stock’s 50-day moving average is $0.50 and its 200-day moving average is $0.56. The company’s market cap is $19.3 million.
Advanced Photonix (NYSE:API) last released its earnings data on Monday, June 30th. The company reported ($0.03) EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted ($0.02) earnings per share. Analysts expect that Advanced Photonix will post $0.02 EPS for the current fiscal year.
A number of analysts have recently weighed in on API shares. 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, Inc (NYSE:API) is engaged in the development and manufacture of optoelectronic devices and value-added sub-systems and systems.
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