AXT, Inc. (NASDAQ:AXTI) Short Interest Update

AXT, Inc. (NASDAQ:AXTI) was the target of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 656,700 shares, an increase of 5.6% from the November 15th total of 622,100 shares. Based on an average daily volume of 376,500 shares, the short-interest ratio is presently 1.7 days. Currently, 1.6% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AXTI. StockNews.com downgraded AXT from a “hold” rating to a “sell” rating in a research report on Monday, September 30th. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of AXT in a research report on Friday, November 1st. Finally, Northland Securities decreased their price objective on AXT from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat, AXT currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.30.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AXTI. Byrne Asset Management LLC grew its stake in AXT by 125.0% in the second quarter. Byrne Asset Management LLC now owns 13,500 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 7,500 shares in the last quarter. Barclays PLC bought a new position in AXT in the third quarter worth approximately $85,000. Bailard Inc. bought a new position in AXT in the second quarter worth approximately $122,000. Creative Planning bought a new position in AXT in the third quarter worth approximately $127,000. Finally, Assenagon Asset Management S.A. grew its stake in AXT by 26.5% in the third quarter. Assenagon Asset Management S.A. now owns 63,794 shares of the semiconductor company’s stock worth $154,000 after purchasing an additional 13,376 shares in the last quarter. Institutional investors own 49.52% of the company’s stock.

AXT Trading Up 0.9 %

Shares of NASDAQ AXTI traded up $0.02 during midday trading on Tuesday, hitting $2.25. The company’s stock had a trading volume of 6,354 shares, compared to its average volume of 958,962. The business’s 50 day moving average is $2.26 and its two-hundred day moving average is $2.73. AXT has a 12-month low of $1.73 and a 12-month high of $5.64. The firm has a market cap of $100.69 million, a P/E ratio of -8.92 and a beta of 2.15.

AXT (NASDAQ:AXTI) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). AXT had a negative return on equity of 4.58% and a negative net margin of 10.73%. The business had revenue of $23.65 million during the quarter, compared to analysts’ expectations of $25.98 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. On average, analysts predict that AXT will post -0.22 earnings per share for the current fiscal year.

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.