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Alliance Fiber Optic Products (NASDAQ:AFOP) was the recipient of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 2,442,112 shares, a growth of 23.4% from the July 31st total of 1,979,270 shares, American Banking News.com reports. Based on an average trading volume of 593,895 shares, the days-to-cover ratio is presently 4.1 days. Currently, 18.2% of the company’s shares are short sold.

A number of research firms have recently commented on AFOP. 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.

Shares of Alliance Fiber Optic Products (NASDAQ:AFOP) opened at 14.32 on Thursday. Alliance Fiber Optic Products has a 52 week low of $11.16 and a 52 week high of $23.94. The stock’s 50-day moving average is $14.69 and its 200-day moving average is $16.54. The company has a market cap of $266.6 million and a P/E ratio of 12.76.

Alliance Fiber Optic Products (NASDAQ:AFOP) last issued its quarterly earnings data on Monday, July 28th. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 27.1% on a year-over-year basis. On average, analysts predict that Alliance Fiber Optic Products will post $1.29 earnings per share 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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