AXT (NASDAQ:AXTI) Stock Price Crosses Above 200-Day Moving Average of $2.90

AXT, Inc. (NASDAQ:AXTI) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.90 and traded as high as $2.92. AXT shares last traded at $2.84, with a volume of 504,626 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. B. Riley boosted their price objective on shares of AXT from $3.80 to $5.50 and gave the company a “buy” rating in a report on Friday, April 5th. StockNews.com cut shares of AXT from a “hold” rating to a “sell” rating in a report on Saturday, March 2nd. Craig Hallum boosted their price objective on shares of AXT from $3.75 to $5.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Wedbush reaffirmed an “outperform” rating and set a $6.00 target price on shares of AXT in a report on Monday, April 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of AXT in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $5.30.

AXT Stock Up 2.5 %

The firm has a market capitalization of $125.67 million, a PE ratio of -6.60 and a beta of 2.24. The stock’s fifty day simple moving average is $3.93 and its 200 day simple moving average is $2.90.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Thursday, February 22nd. The semiconductor company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.05. The business had revenue of $20.43 million during the quarter, compared to analyst estimates of $17.62 million. AXT had a negative net margin of 23.59% and a negative return on equity of 7.80%. On average, analysts predict that AXT, Inc. will post -0.1 EPS for the current year.

Hedge Funds Weigh In On AXT

A number of hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in shares of AXT by 28.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 2,500 shares during the period. Byrne Asset Management LLC bought a new position in shares of AXT during the first quarter worth $28,000. Quadrature Capital Ltd boosted its position in shares of AXT by 46.6% during the fourth quarter. Quadrature Capital Ltd now owns 37,387 shares of the semiconductor company’s stock worth $90,000 after acquiring an additional 11,892 shares during the last quarter. Brookstone Capital Management bought a new position in shares of AXT during the fourth quarter worth $37,000. Finally, James Investment Research Inc. bought a new position in shares of AXT during the third quarter worth $38,000. 49.52% of the stock is currently owned by institutional investors.

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.