AXT (NASDAQ:AXTI) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• AXT Inc (NASDAQ:AXTI) recently crossed above its 200-day moving average of $2.44, reaching a trading high of $4.77, but currently trades at $4.51 with significant trading volume.
• Analysts have varying opinions on AXT's stock, with Weiss Ratings maintaining a "sell" rating, while B. Riley and Wedbush set target prices between $4.10 and $4.30, leading to a consensus rating of "Moderate Buy" with a target of $4.60.
• Institutional investors hold 49.52% of AXT's shares, with several firms increasing their stakes, showcasing growing interest in the semiconductor company's stock.

AXT Inc (NASDAQ:AXTI - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.44 and traded as high as $4.77. AXT shares last traded at $4.51, with a volume of 1,544,339 shares changing hands.

Analysts Set New Price Targets

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

AXT Trading Down 8.5%

The stock has a market capitalization of $208.00 million, a PE ratio of -8.20 and a beta of 2.26. The stock's fifty day simple moving average is $3.72 and its 200-day simple moving average is $2.44.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Algert Global LLC purchased a new stake in AXT in the first quarter worth approximately $31,000. XTX Topco Ltd purchased a new stake in AXT in the second quarter worth approximately $42,000. Atlas Brown Inc. boosted its stake in AXT by 100.0% in the second quarter. Atlas Brown Inc. now owns 39,150 shares of the semiconductor company's stock worth $82,000 after buying an additional 19,575 shares in the last quarter. Creative Planning purchased a new stake in AXT in the second quarter worth approximately $86,000. Finally, Assenagon Asset Management S.A. boosted 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 during the period. Hedge funds and other 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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