5 Stocks With Easy Double-Digit Returns

In this article, we deep dive into the 5 stocks that left Wall Street in the dust on Monday. For a deeper discussion and an extended list, please see 10 Stocks With Easy Double-Digit Returns.

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5. Applied Optoelectronics Inc. (NASDAQ:AAOI)

Applied Optoelectronics snapped a three-day losing streak on Monday, climbing 24.14 percent to close at $184.90 apiece, after earning buy and hold recommendations from five investment firms.

Last Friday, Applied Optoelectronics Inc. (NASDAQ:AAOI) received buy recommendations from Rosenblatt Securities, Needham, and Raymond James, with price targets between $160 and $220.

Rosenblatt gave the highest price target of $220, marking a 57 percent upgrade from its previous target of $140. Needham assigned a new price assessment of $190, higher by 137 percent than its earlier price assessment of $90.

Raymond James, on the other hand, gave a $160 price target, an upgrade from the $72.5 prior, but was markedly lower than the stock’s latest closing price.

On the same day, B. Riley and Northland Securities issued a “hold” recommendation for the stock, alongside price targets of $129 and $57.5, respectively.

In other news, Applied Optoelectronics Inc. (NASDAQ:AAOI) posted a 55.7 percent expansion in its net loss attributable to shareholders in the first quarter of the year, at $14.28 million versus $9.17 million in the same period last year.

However, revenues increased by 51 percent to $151 million from $99.8 million year-on-year.

For the second quarter, Applied Optoelectronics Inc. (NASDAQ:AAOI) is targeting revenues of $180 million to $198 million, or an implied growth of 75 percent to 92 percent from the $103 million in the same period a year earlier.