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

AXT, Inc. (NASDAQ:AXTI) saw a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 609,400 shares, a drop of 7.2% from the November 30th total of 656,700 shares. Currently, 1.5% of the shares of the company are short sold. Based on an average daily volume of 376,000 shares, the days-to-cover ratio is presently 1.6 days.

AXT Stock Performance

AXTI traded down $0.05 on Tuesday, hitting $2.15. 270,462 shares of the company were exchanged, compared to its average volume of 936,625. The firm has a market capitalization of $96.21 million, a P/E ratio of -8.60 and a beta of 2.15. AXT has a fifty-two week low of $1.73 and a fifty-two week high of $5.64. The business’s fifty day moving average is $2.19 and its 200 day moving average is $2.64.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Systematic Financial Management LP grew its holdings in shares of AXT by 13.0% during the 3rd quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company’s stock worth $3,575,000 after purchasing an additional 169,406 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in AXT by 10.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 606,417 shares of the semiconductor company’s stock worth $1,468,000 after buying an additional 54,891 shares during the period. Geode Capital Management LLC increased its position in shares of AXT by 1.7% in the third quarter. Geode Capital Management LLC now owns 464,022 shares of the semiconductor company’s stock worth $1,123,000 after acquiring an additional 7,577 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of AXT by 1,142.1% in the second quarter. Renaissance Technologies LLC now owns 377,600 shares of the semiconductor company’s stock worth $1,276,000 after acquiring an additional 347,200 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of AXT by 25.1% in the 3rd quarter. GSA Capital Partners LLP now owns 301,812 shares of the semiconductor company’s stock valued at $730,000 after acquiring an additional 60,623 shares during the period. Institutional investors and hedge funds own 49.52% of the company’s stock.

Analyst Ratings Changes

AXTI has been the topic of several research analyst reports. StockNews.com lowered AXT from a “hold” rating to a “sell” rating in a research report on Monday, September 30th. Northland Securities decreased their target price on shares of AXT from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $5.00 price target on shares of AXT in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat.com, AXT presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.30.

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.