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

Key Points

• AXT Inc shares have crossed above their 200-day moving average of $1.78, reaching a high of $2.21 during trading, with the last trade at $2.18.
• Wall Street analysts show mixed sentiments, with target prices for AXT being reduced by multiple firms, while the consensus rating remains a "Moderate Buy" with an average target price of $4.60.
• Institutional investors have increased their holdings, with hedge funds owning approximately 49.52% of the company's stock, indicating growing interest in AXT.

AXT Inc (NASDAQ:AXTI - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.78 and traded as high as $2.21. AXT shares last traded at $2.18, with a volume of 135,654 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AXTI shares. Wall Street Zen upgraded AXT to a "sell" rating in a report on Friday, April 25th. B. Riley cut their price target on AXT from $4.50 to $4.30 and set a "buy" rating for the company in a research note on Thursday, July 10th. Finally, Wedbush cut their price target on AXT from $4.25 to $4.10 and set an "outperform" rating for the company in a research note on Friday, August 1st. One 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 a consensus rating of "Moderate Buy" and an average target price of $4.60.

AXT Trading Down 3.9%

The company has a market capitalization of $94.62 million, a PE ratio of -3.77 and a beta of 2.10. The stock has a fifty day moving average of $2.16 and a two-hundred day moving average of $1.78.

Hedge Funds Weigh In On AXT

Institutional investors and hedge funds have recently bought and sold shares of the stock. Algert Global LLC bought a new stake in shares of AXT in the 1st quarter worth approximately $31,000. XTX Topco Ltd bought a new stake in shares of AXT during the second quarter valued at approximately $42,000. Jane Street Group LLC bought a new stake in shares of AXT during the fourth quarter valued at approximately $60,000. Man Group plc purchased a new position in AXT during the fourth quarter valued at $67,000. Finally, Atlas Brown Inc. raised its stake in 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 buying an additional 19,575 shares during the last quarter. 49.52% of the stock is currently owned by institutional investors.

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.