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

AXT, Inc. (NASDAQ:AXTI) was the recipient of a large drop in short interest during 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. Based on an average daily trading volume, of 268,900 shares, the short-interest ratio is presently 3.3 days. Currently, 2.1% of the company’s shares are sold short.

AXT Stock Down 1.3 %

AXTI stock opened at $2.32 on Tuesday. AXT has a twelve month low of $1.89 and a twelve month high of $5.64. The company has a market cap of $103.01 million, a P/E ratio of -5.80 and a beta of 2.23. The business’s fifty day moving average is $2.89 and its 200-day moving average is $3.46.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wedbush restated an “outperform” rating and set a $6.00 target price on shares of AXT in a research report on Monday, July 29th. Needham & Company LLC reissued a “buy” rating and set a $5.00 price objective on shares of AXT in a report on Friday, August 2nd. Finally, StockNews.com downgraded shares of AXT from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $5.38.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC acquired a new position in shares of AXT in the 2nd quarter valued at $468,000. Squarepoint Ops LLC grew its stake in AXT by 206.8% in the second quarter. Squarepoint Ops LLC now owns 166,072 shares of the semiconductor company’s stock valued at $561,000 after acquiring an additional 111,934 shares during the period. XTX Topco Ltd increased its holdings in shares of AXT by 135.1% in the second quarter. XTX Topco Ltd now owns 173,726 shares of the semiconductor company’s stock worth $587,000 after acquiring an additional 99,840 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of AXT by 1,142.1% during the second quarter. Renaissance Technologies LLC now owns 377,600 shares of the semiconductor company’s stock worth $1,276,000 after purchasing an additional 347,200 shares during the period. Finally, ClariVest Asset Management LLC lifted its holdings in shares of AXT by 21.1% during the 2nd quarter. ClariVest Asset Management LLC now owns 195,920 shares of the semiconductor company’s stock valued at $662,000 after purchasing an additional 34,120 shares in the last quarter. Institutional investors and hedge funds own 49.52% of the company’s stock.

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.