AXT (NASDAQ:AXTI) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of AXT Inc (NASDAQ:AXTI) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.44 and traded as high as $4.77. AXT shares last traded at $4.51, with a volume of 1,544,339 shares.

Analysts Set New Price Targets

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

AXT Trading Down 8.5%

The company has a 50-day simple moving average of $3.72 and a 200 day simple moving average of $2.44. The company has a market cap of $208.00 million, a P/E ratio of -8.20 and a beta of 2.26.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP increased its holdings in shares of AXT by 43.2% in the first quarter. GSA Capital Partners LLP now owns 533,264 shares of the semiconductor company’s stock valued at $752,000 after purchasing an additional 160,858 shares during the period. Algert Global LLC acquired a new position in shares of AXT in the first quarter valued at about $31,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of AXT by 75.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 530,269 shares of the semiconductor company’s stock valued at $748,000 after purchasing an additional 227,333 shares during the period. Acadian Asset Management LLC increased its holdings in shares of AXT by 2.8% in the first quarter. Acadian Asset Management LLC now owns 293,818 shares of the semiconductor company’s stock valued at $412,000 after purchasing an additional 8,039 shares during the period. Finally, Atlas Brown Inc. increased its holdings in shares of AXT by 100.0% in the second quarter. Atlas Brown Inc. now owns 39,150 shares of the semiconductor company’s stock valued at $82,000 after purchasing an additional 19,575 shares during the period. 49.52% of the stock is owned by institutional investors and hedge funds.

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.