Insider Buying: M Scott Farese Acquires 10,000 Shares of Advanced Photonix Stock (API)
Advanced Photonix (NYSE:API) Director M Scott Farese acquired 10,000 shares of Advanced Photonix stock in a transaction dated Thursday, August 28th. The shares were purchased at an average cost of $0.50 per share, with a total value of $5,000.00. Following the completion of the purchase, the director now directly owns 189,360 shares of the company’s stock, valued at approximately $94,680. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on API. 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.
Shares of Advanced Photonix (NYSE:API) traded up 5.63% during mid-day trading on Tuesday, hitting $0.5176. 38,653 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’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) 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. Analysts expect that Advanced Photonix will post $0.02 EPS 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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