Short Interest in AXT Inc (NASDAQ:AXTI) Increases By 44.8%

AXT Inc (NASDAQ:AXTI) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 4,098,563 shares, an increase of 44.8% from the December 15th total of 2,829,634 shares. Currently, 8.1% of the shares of the company are sold short. Based on an average daily trading volume, of 4,302,834 shares, the short-interest ratio is currently 1.0 days. Based on an average daily trading volume, of 4,302,834 shares, the short-interest ratio is currently 1.0 days. Currently, 8.1% of the shares of the company are sold short.

Analyst Ratings Changes

AXTI has been the topic of several recent research reports. Northland Securities set a $20.00 price target on shares of AXT in a report on Monday, December 22nd. Wall Street Zen downgraded AXT from a “hold” rating to a “sell” rating in a research note on Saturday. Wedbush set a $7.00 price target on AXT and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Needham & Company LLC boosted their price target on AXT from $5.00 to $10.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AXT in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.75.

AXT Trading Down 14.1%

Shares of AXTI stock opened at $22.09 on Monday. AXT has a 12-month low of $1.13 and a 12-month high of $26.66. The business’s 50 day moving average is $14.62 and its two-hundred day moving average is $7.63. The company has a market capitalization of $1.22 billion, a P/E ratio of -42.48 and a beta of 1.94.

AXT (NASDAQ:AXTI) last posted its quarterly earnings data on Thursday, October 30th. The semiconductor company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.08. The business had revenue of $27.96 million during the quarter, compared to analysts’ expectations of $19.85 million. AXT had a negative return on equity of 11.19% and a negative net margin of 25.22%. On average, research analysts predict that AXT will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Leonard J. Leblanc sold 3,637 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $8.41, for a total value of $30,587.17. Following the sale, the director directly owned 118,875 shares of the company’s stock, valued at $999,738.75. This represents a 2.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David C. Chang sold 100,000 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $8.94, for a total transaction of $894,000.00. Following the completion of the sale, the director owned 207,744 shares in the company, valued at $1,857,231.36. The trade was a 32.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 326,767 shares of company stock worth $3,329,808. 8.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On AXT

A number of large investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its holdings in AXT by 12.4% during the third quarter. Assenagon Asset Management S.A. now owns 22,952 shares of the semiconductor company’s stock valued at $103,000 after purchasing an additional 2,540 shares in the last quarter. Algert Global LLC raised its position in shares of AXT by 31.9% during the 3rd quarter. Algert Global LLC now owns 28,800 shares of the semiconductor company’s stock worth $129,000 after purchasing an additional 6,970 shares during the last quarter. Acadian Asset Management LLC lifted its stake in AXT by 2.8% in the 1st quarter. Acadian Asset Management LLC now owns 293,818 shares of the semiconductor company’s stock valued at $412,000 after buying an additional 8,039 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in AXT in the 3rd quarter valued at about $52,000. Finally, XTX Topco Ltd acquired a new stake in AXT in the 2nd quarter worth about $42,000. 49.52% of the stock is currently owned by institutional investors and hedge funds.

AXT Company Profile

AXT, Inc (NASDAQ: AXTI) is a global supplier of compound and single-element semiconductor substrates, offering a range of materials critical for high-performance electronic and optoelectronic devices. Founded in 1986 and headquartered in Fremont, California, AXT specializes in the development, manufacture and distribution of wafers composed of gallium arsenide (GaAs), indium phosphide (InP), gallium nitride (GaN) and other compound semiconductor materials. These substrates serve as the foundational platforms for devices used in data communications, wireless infrastructure, advanced computing, consumer electronics and photovoltaic applications.

AXT’s product portfolio encompasses a variety of wafer sizes, dopant concentrations and crystal orientations, tailored to meet the precise specifications of its customers.