What is Causing AU Optronics Corp (ADR) (NYSE:AUO) Stock to Skyrocket Today?

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AU Optronics Corp (ADR) (NYSE:AUO) shares are trading up big today, without any apparent news to report on. The company remains one of the world’s leading providers of optoelectronic solutions, and with recent sales of 4K TV’s picking up, especially around the Holiday Season, perhaps investors feel now is a good time to jump on board. Interestingly enough though, over 1.7 million shares have already traded hands today, which is just about the average volume for AU Optronics Corp (ADR) (NYSE:AUO) for an entire day.

Is something else going on here? What could be causing this massive jump in price and the huge volume? Could it be a recent discussion by CNBC’s Jim Cramer? He certainly has been known to single handedly send stocks soaring. Could it be a large insider buy, or several buys that are taking place this morning? Do a select few people know something that others do not? We really aren’t sure, but with a P/E of just 5.35, that stock looks like a good buy from a technical standpoint.

However, from a company standpoint, AU Optronics Corp (ADR) (NYSE:AUO) reported earlier this month that their revenue was down 2.4% month-over-month for November, and 18.1% year-over-year. It should be interesting to continue following this stock as trading continues and perhaps some sort of news comes out.

The stock is up 15.95% or $0.41 following the news, hitting $2.98 per share. About 1.36M shares traded hands. AUO has declined 49.31% since May 18, 2015 and is downtrending. It has underperformed the S&P500 by 47.05%.

From a total of 2 analysts covering AU Optronics (NYSE:AUO) stock, 0 rate it a “Buy”, 0 a “Sell”, and 2 a “Hold”. This means that 0 of the ratings are positive. AU Optronics was the topic of 3 analyst reports since July 30, 2015 according to the firm StockzIntelligence Inc. Fubon Bank downgraded shares on July 30 to a “” rating.

Au Optronics Corp. is engaged in the research, development, production and sale of thin film transistor liquid crystal displays and other flat panel displays used in a range of applications. The company has a market cap of $2.95 billion. The Firm is also engaged in the production and sale of solar photovoltaic (PV) modules and systems. It has 5.35 P/E ratio. The Firm operates in two business divisions: Display Business and Solar Business.

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