AXT (NASDAQ:AXTI) Stock Passes Above 200-Day Moving Average Following Weak Earnings

Key Points

• AXT Inc shares traded above their 200-day moving average of $1.79 at $2.08, despite missing quarterly earnings expectations with a reported EPS of ($0.16).
• Wall Street analysts have mixed ratings on AXT, with a consensus rating of "Moderate Buy" and price targets ranging from $4.30 to $4.70.
• Institutional investors currently own 49.52% of AXT's stock, with several hedge funds significantly increasing their stakes in the company recently.

AXT Inc (NASDAQ:AXTI - Get Free Report) shares passed above its 200-day moving average during trading on Thursday after the company announced better than expected quarterly earnings. The stock has a 200-day moving average of $1.79 and traded as high as $2.24. AXT shares last traded at $2.08, with a volume of 311,991 shares.

The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). AXT had a negative net margin of 27.68% and a negative return on equity of 11.19%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. B. Riley decreased their price objective on AXT from $4.50 to $4.30 and set a "buy" rating for the company in a report on Thursday, July 10th. Wedbush reduced their target price on AXT from $4.25 to $4.10 and set an "outperform" rating for the company in a report on Friday. Finally, Wall Street Zen raised AXT to a "sell" rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. According to MarketBeat, AXT presently has an average rating of "Moderate Buy" and a consensus price target of $4.60.

Institutional Trading of AXT

Hedge funds have recently bought and sold shares of the company. Algert Global LLC bought a new stake in AXT in the first quarter valued at approximately $31,000. Jane Street Group LLC bought a new stake in AXT in the fourth quarter valued at approximately $60,000. Man Group plc bought a new stake in AXT in the fourth quarter valued at approximately $67,000. Wedbush Securities Inc. lifted its position in AXT by 71.9% in the fourth quarter. Wedbush Securities Inc. now owns 35,237 shares of the semiconductor company's stock valued at $76,000 after purchasing an additional 14,737 shares during the last quarter. Finally, Atlas Brown Inc. lifted its position in AXT by 100.0% in 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 during the last quarter. Institutional investors own 49.52% of the company's stock.

AXT Stock Up 10.9%

The company has a 50-day simple moving average of $2.06 and a two-hundred day simple moving average of $1.79. The stock has a market cap of $97.08 million, a P/E ratio of -3.86 and a beta of 2.10.

About AXT

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.