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

AXT, Inc. (NASDAQ:AXTI) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 877,800 shares, a drop of 9.2% from the August 15th total of 967,200 shares. Approximately 2.1% of the company’s stock are sold short. Based on an average daily trading volume, of 268,900 shares, the short-interest ratio is presently 3.3 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in AXT by 28.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 2,500 shares in the last quarter. Byrne Asset Management LLC grew its holdings in AXT by 125.0% in the 2nd quarter. Byrne Asset Management LLC now owns 13,500 shares of the semiconductor company’s stock worth $48,000 after buying an additional 7,500 shares in the last quarter. Keystone Wealth Services LLC lifted its holdings in shares of AXT by 4.3% in the second quarter. Keystone Wealth Services LLC now owns 202,223 shares of the semiconductor company’s stock valued at $684,000 after buying an additional 8,333 shares during the period. SG Americas Securities LLC purchased a new stake in AXT during the first quarter valued at about $52,000. Finally, Quadrature Capital Ltd grew its holdings in shares of AXT by 46.6% during the 4th quarter. Quadrature Capital Ltd now owns 37,387 shares of the semiconductor company’s stock valued at $90,000 after acquiring an additional 11,892 shares in the last quarter. Hedge funds and other institutional investors own 49.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AXTI. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price target on shares of AXT in a report on Friday, August 2nd. StockNews.com lowered AXT from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Finally, Wedbush restated an “outperform” rating and set a $6.00 target price on shares of AXT in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, AXT has a consensus rating of “Moderate Buy” and an average target price of $5.38.

AXT Trading Down 3.6 %

NASDAQ:AXTI traded down $0.08 during trading hours on Wednesday, reaching $2.14. 160,126 shares of the company traded hands, compared to its average volume of 1,160,747. The business’s 50-day moving average price is $2.87 and its two-hundred day moving average price is $3.44. AXT has a 1 year low of $1.89 and a 1 year high of $5.64. The stock has a market capitalization of $95.01 million, a P/E ratio of -5.48 and a beta of 2.23.

AXT (NASDAQ:AXTI) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. AXT had a negative return on equity of 5.87% and a negative net margin of 14.75%. The firm had revenue of $27.92 million for the quarter, compared to analyst estimates of $26.50 million. During the same quarter last year, the firm posted ($0.12) earnings per share. As a group, equities analysts anticipate that AXT will post -0.19 EPS for the current year.

AXT Company Profile

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.