AXT Inc. (AXTI) Sees Unusually-High Trading Volume
AXT Inc. (NASDAQ:AXTI) saw strong trading volume on Tuesday . 300,206 shares changed hands during mid-day trading, an increase of 153% from the previous session’s volume of 118,560 shares.The stock last traded at $3.67 and had previously closed at $3.78.
A number of equities research analysts have weighed in on the stock. B. Riley restated a “buy” rating and issued a $4.80 price objective on shares of AXT in a report on Thursday, July 28th. Zacks Investment Research upgraded shares of AXT from a “hold” rating to a “strong-buy” rating and set a $3.50 price objective on the stock in a report on Wednesday, May 4th. Finally, Craig Hallum upgraded shares of AXT from a “hold” rating to a “buy” rating in a report on Tuesday, May 3rd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. AXT presently has a consensus rating of “Buy” and a consensus price target of $4.85.
The stock has a 50-day moving average of $3.40 and a 200 day moving average of $2.95. The stock’s market cap is $116.87 million.
AXT (NASDAQ:AXTI) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm earned $20.50 million during the quarter, compared to analysts’ expectations of $19.97 million. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. Analysts forecast that AXT Inc. will post $0.13 EPS for the current year.
AXT, Inc (AXT) is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Company is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials.
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