AXT Inc (NASDAQ:AXTI) Short Interest Update

Key Points

• Short interest in AXT Inc (NASDAQ:AXTI) surged by 42.0% in September, reaching a total of 1,250,000 shares by the end of the month.
• The stock has an average price target of $4.60 with ratings reflecting a Moderate Buy sentiment from analysts.
• Institutional investors own approximately 49.52% of AXT's shares, indicating significant confidence from larger financial entities.

AXT Inc (NASDAQ:AXTI - Get Free Report) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totaling 1,250,000 shares, a growth of 42.0% from the September 15th total of 880,500 shares. Based on an average daily trading volume, of 978,800 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily trading volume, of 978,800 shares, the days-to-cover ratio is presently 1.3 days.

AXT Stock Performance

Shares of AXTI opened at $4.94 on Thursday. AXT has a 1 year low of $1.13 and a 1 year high of $5.67. The company has a market cap of $227.83 million, a price-to-earnings ratio of -8.98 and a beta of 2.26. The firm has a fifty day moving average of $3.89 and a 200-day moving average of $2.51.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AXTI shares. Weiss Ratings reissued a "sell (d-)" rating on shares of AXT in a research report on Wednesday, October 8th. Wedbush decreased their price objective on shares of AXT from $4.25 to $4.10 and set an "outperform" rating for the company in a report on Friday, August 1st. Finally, B. Riley decreased their price objective on shares of AXT from $4.50 to $4.30 and set a "buy" rating for the company in a report on Thursday, July 10th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $4.60.

Hedge Funds Weigh In On AXT

Several hedge funds and other institutional investors have recently modified their holdings of AXTI. Assenagon Asset Management S.A. raised its stake in shares of AXT by 12.4% during the third quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company's stock valued at $103,000 after purchasing an additional 2,540 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of AXT by 2.8% during the first quarter. Acadian Asset Management LLC now owns 293,818 shares of the semiconductor company's stock valued at $412,000 after purchasing an additional 8,039 shares in the last quarter. Atlas Brown Inc. raised its stake in shares of AXT by 100.0% during the second quarter. Atlas Brown Inc. now owns 39,150 shares of the semiconductor company's stock valued at $82,000 after purchasing an additional 19,575 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of AXT during the second quarter valued at about $42,000. Finally, Algert Global LLC bought a new stake in shares of AXT during the first quarter valued at about $31,000. Institutional investors and hedge funds own 49.52% of the company's stock.

AXT Company Profile

AXT, Inc designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.

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