AXT Inc (NASDAQ:AXTI) Short Interest Update
AXT Inc (NASDAQ:AXTI) was the target of a large increase in short interest in June. As of June 30th, there was short interest totalling 2,315,518 shares, an increase of 272.5% from the June 15th total of 621,686 shares. Based on an average trading volume of 855,057 shares, the short-interest ratio is currently 2.7 days. Approximately 6.3% of the company’s stock are sold short.
In other news, Director Leonard J. Leblanc sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $7.27, for a total transaction of $36,350.00. Following the transaction, the director now directly owns 149,134 shares in the company, valued at approximately $1,084,204.18. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Robert G. Ochrym sold 7,500 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $6.93, for a total transaction of $51,975.00. Following the transaction, the vice president now owns 39,000 shares in the company, valued at $270,270. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AXTI. Gotham Asset Management LLC acquired a new position in AXT during the first quarter worth $101,000. SG Americas Securities LLC acquired a new position in AXT during the first quarter worth $105,000. A.R.T. Advisors LLC acquired a new position in AXT during the fourth quarter worth $108,000. Sanctuary Wealth Advisors LLC acquired a new position in AXT during the first quarter worth $116,000. Finally, BlueCrest Capital Management Ltd acquired a new position in AXT during the first quarter worth $173,000. 54.32% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on AXTI. B. Riley reiterated a “neutral” rating and issued a $7.00 price objective on shares of AXT in a report on Friday. BidaskClub upgraded shares of AXT from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Dougherty & Co reiterated a “buy” rating on shares of AXT in a report on Saturday, June 17th. Zacks Investment Research upgraded shares of AXT from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a report on Tuesday, May 23rd. Finally, Needham & Company LLC upped their price objective on shares of AXT from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Thursday, April 27th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $8.13.
Shares of AXT (NASDAQ:AXTI) opened at 7.60 on Friday. AXT has a one year low of $3.36 and a one year high of $8.65. The company has a market capitalization of $290.75 million, a PE ratio of 40.86 and a beta of 1.01. The company has a 50-day moving average of $6.67 and a 200-day moving average of $6.42.
AXT (NASDAQ:AXTI) last released its earnings results on Wednesday, April 26th. The semiconductor company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $20.60 million during the quarter, compared to the consensus estimate of $18.45 million. AXT had a net margin of 7.52% and a return on equity of 4.37%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts anticipate that AXT will post $0.19 earnings per share for the current year.
AXT Company Profile
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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