AXT Inc. (AXTI) Trading Down 3.6%
AXT Inc. (NASDAQ:AXTI) shares dropped 3.6% during trading on Friday . The stock traded as low as $4.32 and last traded at $4.33, with a volume of 118,212 shares traded. The stock had previously closed at $4.49.
AXTI has been the subject of several recent research reports. Zacks Investment Research upgraded AXT from a “hold” rating to a “strong-buy” rating and set a $4.50 price target for the company in a research report on Tuesday. Needham & Company LLC raised shares of AXT from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a research note on Thursday, July 28th. TheStreet raised shares of AXT from a “hold” rating to a “buy” rating in a research note on Wednesday, May 25th. B. Riley reissued a “buy” rating and issued a $4.00 price objective on shares of AXT in a research note on Monday, May 9th. Finally, Craig Hallum raised shares of AXT from a “hold” rating to a “buy” rating in a research note on Tuesday, May 3rd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $4.93.
The firm’s 50 day moving average is $3.73 and its 200-day moving average is $3.13. The company’s market capitalization is $142.26 million.
AXT (NASDAQ:AXTI) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The company had revenue of $20.50 million for the quarter, compared to analyst estimates of $19.97 million. The business’s revenue was down 2.4% on a year-over-year basis. On average, analysts expect 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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