AXT Inc (NASDAQ:AXTI) Short Interest Update

Key Points

• AXT Inc experienced a 24.4% decrease in short interest in July, with the total short interest falling from 809,200 to 611,400 shares.
• The days-to-cover ratio for AXT's stock is currently 1.3 days, indicating a relatively low level of short selling with only 1.5% of shares shorted.
• Several institutional investors have increased their holdings in AXT, with 49.52% of the stock now owned by hedge funds and other institutions.

AXT Inc (NASDAQ:AXTI - Get Free Report) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 611,400 shares, adecreaseof24.4% from the July 15th total of 809,200 shares. Approximately1.5% of the shares of the stock are sold short. Based on an average trading volume of 456,100 shares, the days-to-cover ratio is presently 1.3 days. Based on an average trading volume of 456,100 shares, the days-to-cover ratio is presently 1.3 days. Approximately1.5% of the shares of the stock are sold short.

AXT Stock Down 2.5%

AXTI traded down $0.07 during trading on Tuesday, reaching $2.77. The company had a trading volume of 497,957 shares, compared to its average volume of 542,408. The stock has a market cap of $127.75 million, a P/E ratio of -5.04 and a beta of 2.10. The business has a 50 day simple moving average of $2.23 and a 200-day simple moving average of $1.80. AXT has a 52 week low of $1.13 and a 52 week high of $3.07.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. B. Riley lowered their price target on AXT from $4.50 to $4.30 and set a "buy" rating for the company in a research report on Thursday, July 10th. Wedbush lowered their price target on AXT from $4.25 to $4.10 and set an "outperform" rating for the company in a research report on Friday, August 1st. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $4.60.

Institutional Trading of AXT

Hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd purchased a new stake in AXT in the second quarter worth $42,000. Algert Global LLC purchased a new stake in AXT in the first quarter worth $31,000. Jane Street Group LLC purchased a new stake in AXT in the fourth quarter worth $60,000. Man Group plc purchased a new stake in AXT in the fourth quarter worth $67,000. Finally, Atlas Brown Inc. increased its stake in AXT by 100.0% in the second quarter. Atlas Brown Inc. now owns 39,150 shares of the semiconductor company's stock worth $82,000 after purchasing an additional 19,575 shares during the period. Hedge funds and other institutional investors own 49.52% of the company's stock.

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.