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AXT, Inc. (NASDAQ:AXTI) Sees Large Growth in Short Interest

AXT logo with Computer and Technology background

AXT, Inc. (NASDAQ:AXTI - Get Free Report) was the target of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 1,130,000 shares, a growth of 13.0% from the May 15th total of 999,700 shares. Approximately 2.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 969,300 shares, the days-to-cover ratio is currently 1.2 days.

Institutional Investors Weigh In On AXT

A number of institutional investors and hedge funds have recently made changes to their positions in AXTI. PNC Financial Services Group Inc. raised its stake in shares of AXT by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company's stock worth $27,000 after buying an additional 2,500 shares during the last quarter. Byrne Asset Management LLC bought a new stake in shares of AXT during the 1st quarter valued at $28,000. Brookstone Capital Management acquired a new position in shares of AXT in the 4th quarter valued at $37,000. Brown Advisory Inc. bought a new position in shares of AXT in the 4th quarter worth $50,000. Finally, SG Americas Securities LLC acquired a new stake in shares of AXT during the first quarter worth $52,000. Institutional investors own 49.52% of the company's stock.

AXT Stock Down 0.5 %

NASDAQ:AXTI traded down $0.02 during mid-day trading on Friday, reaching $3.63. 155,691 shares of the company were exchanged, compared to its average volume of 353,297. AXT has a 12 month low of $1.89 and a 12 month high of $5.64. The stock has a market cap of $161.17 million, a PE ratio of -9.08 and a beta of 2.26. The company has a fifty day moving average of $3.40 and a 200 day moving average of $3.25.

AXT (NASDAQ:AXTI - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. AXT had a negative net margin of 21.01% and a negative return on equity of 7.40%. The business had revenue of $22.69 million during the quarter, compared to analyst estimates of $21.00 million. During the same quarter last year, the business posted ($0.08) earnings per share. On average, equities research analysts anticipate that AXT will post -0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on AXTI. Wedbush reiterated an "outperform" rating and issued a $6.00 price target on shares of AXT in a research report on Friday, May 3rd. Needham & Company LLC reiterated a "buy" rating and set a $5.00 target price on shares of AXT in a research report on Friday, May 3rd. lowered shares of AXT from a "hold" rating to a "sell" rating in a research report on Thursday. Craig Hallum raised their price objective on shares of AXT from $3.75 to $5.00 and gave the stock a "buy" rating in a report on Tuesday, April 9th. Finally, B. Riley boosted their target price on AXT from $3.80 to $5.50 and gave the stock a "buy" rating in a report on Friday, April 5th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $5.38.

View Our Latest Stock Analysis on AXT

About AXT

(Get Free Report)

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.

Further Reading

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