AXT (NASDAQ:AXTI) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• AXT (NASDAQ:AXTI) has been given a "sell (D-)" rating by Weiss Ratings, indicating a negative outlook on the stock.
• Despite the downgrade, several other analysts have rated AXT with a "Buy" or "Outperform" rating, and the stock currently has a consensus price target of $4.60.
• AXT's stock experienced a significant increase, rising 16.8% to $6.05 during mid-day trading, with over 5 million shares exchanged.

AXT (NASDAQ:AXTI - Get Free Report)'s stock had its "sell (d-)" rating restated by analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Several other research firms have also recently issued reports on AXTI. B. Riley decreased their price target on AXT from $4.50 to $4.30 and set a "buy" rating on the stock in a report on Thursday, July 10th. Wedbush decreased their price target on AXT from $4.25 to $4.10 and set an "outperform" rating on the stock in a report on Friday, August 1st. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, AXT currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.60.

AXT Stock Up 16.8%

AXT stock traded up $0.87 during mid-day trading on Friday, hitting $6.05. 5,213,818 shares of the company were exchanged, compared to its average volume of 768,583. The business has a fifty day moving average of $3.95 and a 200 day moving average of $2.54. The company has a market capitalization of $279.03 million, a PE ratio of -11.00 and a beta of 2.26. AXT has a 1-year low of $1.13 and a 1-year high of $6.13.

Hedge Funds Weigh In On AXT

Institutional investors have recently modified their holdings of the business. XTX Topco Ltd bought a new position in shares of AXT during the 2nd quarter valued at about $42,000. Algert Global LLC bought a new position in shares of AXT during the 1st quarter valued at about $31,000. Assenagon Asset Management S.A. lifted its holdings in shares of AXT by 12.4% during the 3rd 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. Atlas Brown Inc. lifted its holdings in shares of AXT by 100.0% during the 2nd 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. Finally, Creative Planning bought a new position in shares of AXT during the 2nd quarter valued at about $86,000. Institutional investors 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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