AXT Inc (NASDAQ:AXTI) Short Interest Update

AXT Inc (NASDAQ:AXTIGet Free Report) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totaling 1,250,000 shares, an increase of 42.0% from the September 15th total of 880,500 shares. Based on an average trading volume of 978,800 shares, the days-to-cover ratio is presently 1.3 days. Based on an average trading volume of 978,800 shares, the days-to-cover ratio is presently 1.3 days.

AXT Trading Down 4.4%

Shares of AXTI opened at $4.94 on Thursday. The business’s 50-day moving average price is $3.89 and its 200 day moving average price is $2.51. The stock has a market capitalization of $227.83 million, a P/E ratio of -8.98 and a beta of 2.26. AXT has a 1-year low of $1.13 and a 1-year high of $5.67.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of AXT in a research report on Wednesday, October 8th. Wedbush dropped their price target on shares of AXT from $4.25 to $4.10 and set an “outperform” rating on the stock in a research report on Friday, August 1st. Finally, B. Riley dropped their price target on shares of AXT from $4.50 to $4.30 and set a “buy” rating on the stock in a research report on Thursday, July 10th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, AXT presently has an average rating of “Moderate Buy” and an average target price of $4.60.

Check Out Our Latest Stock Report on AXT

Hedge Funds Weigh In On AXT

Several institutional investors and hedge funds have recently bought and sold shares of AXTI. GSA Capital Partners LLP grew its stake in AXT by 43.2% during the 1st quarter. GSA Capital Partners LLP now owns 533,264 shares of the semiconductor company’s stock valued at $752,000 after acquiring an additional 160,858 shares in the last quarter. Algert Global LLC purchased a new position in AXT during the 1st quarter valued at about $31,000. Jacobs Levy Equity Management Inc. grew its stake in AXT by 75.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 530,269 shares of the semiconductor company’s stock valued at $748,000 after acquiring an additional 227,333 shares in the last quarter. Acadian Asset Management LLC grew 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 valued at $412,000 after acquiring an additional 8,039 shares in the last quarter. Finally, Atlas Brown Inc. grew its stake in AXT by 100.0% during the 2nd quarter. Atlas Brown Inc. now owns 39,150 shares of the semiconductor company’s stock valued at $82,000 after acquiring an additional 19,575 shares in the last quarter. Hedge funds and other institutional investors own 49.52% of the company’s stock.

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.

Featured Articles

Receive News & Ratings for AXT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AXT and related companies with MarketBeat.com's FREE daily email newsletter.