AXT (NASDAQ:AXTI) Stock Crosses Above 200 Day Moving Average - What's Next?

Shares of AXT Inc (NASDAQ:AXTI - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.79 and traded as high as $2.03. AXT shares last traded at $1.91, with a volume of 220,026 shares traded.

Analyst Ratings Changes

AXTI has been the topic of a number of recent research reports. Wedbush reiterated an "outperform" rating and issued a $4.50 price objective on shares of AXT in a research report on Tuesday, April 29th. B. Riley decreased their price target on AXT from $6.00 to $4.50 and set a "buy" rating on the stock in a report on Friday, May 2nd. Wall Street Zen upgraded AXT to a "sell" rating in a research report on Friday, April 25th. Finally, Needham & Company LLC restated a "buy" rating and set a $5.00 target price on shares of AXT in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $4.75.

AXT Trading Down 2.1%

The business's fifty day simple moving average is $1.50 and its 200 day simple moving average is $1.79. The stock has a market cap of $87.10 million, a price-to-earnings ratio of -4.44 and a beta of 1.98.

AXT (NASDAQ:AXTI - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. 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 return on equity of 8.54% and a negative net margin of 19.10%. As a group, research analysts anticipate that AXT Inc will post -0.12 earnings per share for the current year.

Institutional Trading of AXT

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its stake in AXT by 2.8% during the 1st quarter. Acadian Asset Management LLC now owns 293,818 shares of the semiconductor company's stock worth $412,000 after acquiring an additional 8,039 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in AXT by 75.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 530,269 shares of the semiconductor company's stock worth $748,000 after purchasing an additional 227,333 shares during the period. Algert Global LLC acquired a new stake in AXT in the first quarter worth $31,000. GSA Capital Partners LLP boosted its position in shares of AXT by 43.2% during the first quarter. GSA Capital Partners LLP now owns 533,264 shares of the semiconductor company's stock worth $752,000 after purchasing an additional 160,858 shares in the last quarter. Finally, Park Edge Advisors LLC grew its holdings in shares of AXT by 25.1% in the 1st quarter. Park Edge Advisors LLC now owns 62,500 shares of the semiconductor company's stock valued at $88,000 after buying an additional 12,550 shares during the period. 49.52% of the stock is 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.

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