AXT Inc. (AXTI) Sets New 52-Week High at $4.05
AXT Inc. (NASDAQ:AXTI) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $4.05 and last traded at $3.97, with a volume of 155,563 shares traded. The stock had previously closed at $3.99.
Several research firms have recently commented on AXTI. B. Riley reaffirmed a “buy” rating and issued a $4.80 price objective on shares of AXT in a research note on Thursday, July 28th. Zacks Investment Research upgraded AXT from a “hold” rating to a “strong-buy” rating and set a $3.50 target price for the company in a research report on Wednesday, May 4th. Finally, Craig Hallum upgraded AXT from a “hold” rating to a “buy” rating in a research report on Tuesday, May 3rd. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $4.85.
The firm’s market capitalization is $124.88 million. The stock has a 50 day moving average of $3.49 and a 200-day moving average of $3.02.
AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The firm had revenue of $20.50 million for the quarter, compared to analysts’ expectations of $19.97 million. The company’s revenue was down 2.4% on a year-over-year basis. On average, equities analysts forecast that AXT Inc. will post $0.13 EPS for the current fiscal 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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