AXT, Inc. (NASDAQ:AXTI) Short Interest Down 12.4% in May

AXT, Inc. (NASDAQ:AXTI - Get Free Report) saw a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 885,000 shares, a decrease of 12.4% from the April 30th total of 1,010,000 shares. Based on an average trading volume of 497,400 shares, the short-interest ratio is presently 1.8 days. Approximately 2.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On AXT

Large investors have recently made changes to their positions in the company. Bleakley Financial Group LLC bought a new position in AXT during the fourth quarter valued at approximately $29,000. Algert Global LLC acquired a new position in shares of AXT during the 1st quarter worth $31,000. Virtu Financial LLC bought a new position in shares of AXT during the 4th quarter valued at $54,000. Jane Street Group LLC acquired a new stake in shares of AXT in the 4th quarter valued at $60,000. Finally, Man Group plc acquired a new stake in shares of AXT in the 4th quarter valued at $67,000. Institutional investors own 49.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wedbush restated an "outperform" rating and issued a $4.50 target price on shares of AXT in a report on Tuesday, April 29th. Needham & Company LLC reissued a "buy" rating and issued a $5.00 price target on shares of AXT in a research note on Friday, February 21st. B. Riley cut their price objective on AXT from $6.00 to $4.50 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $4.75.

AXT Stock Performance

Shares of AXTI stock traded up $0.04 during trading on Friday, hitting $1.78. 191,132 shares of the company were exchanged, compared to its average volume of 394,479. The business's 50-day simple moving average is $1.39 and its 200 day simple moving average is $1.79. AXT has a twelve month low of $1.13 and a twelve month high of $4.03. The firm has a market capitalization of $81.18 million, a price-to-earnings ratio of -6.36 and a beta of 1.98.

AXT (NASDAQ:AXTI - Get Free Report) last issued its earnings results on Thursday, May 1st. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.07). AXT had a negative net margin of 11.70% and a negative return on equity of 5.27%. On average, equities analysts forecast that AXT will post -0.12 earnings per share for the current fiscal year.

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.