AXT, Inc. (NASDAQ:AXTI) Short Interest Down 21.2% in September

by · The Cerbat Gem

AXT, Inc. (NASDAQ:AXTI – Get Free Report) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 665,400 shares, a decline of 21.2% from the September 15th total of 844,900 shares. Based on an average daily trading volume, of 295,000 shares, the short-interest ratio is presently 2.3 days. Currently, 1.6% of the shares of the company are short sold.

Institutional Trading of AXT

A number of institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its position in AXT by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,200 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 2,500 shares in the last quarter. Byrne Asset Management LLC lifted its position in shares of AXT by 125.0% during the 2nd quarter. Byrne Asset Management LLC now owns 13,500 shares of the semiconductor company’s stock worth $48,000 after buying an additional 7,500 shares during the last quarter. SG Americas Securities LLC acquired a new stake in AXT in the first quarter valued at about $52,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in AXT during the first quarter worth about $77,000. Finally, Quadrature Capital Ltd raised its stake in AXT by 46.6% during the fourth quarter. Quadrature Capital Ltd now owns 37,387 shares of the semiconductor company’s stock worth $90,000 after acquiring an additional 11,892 shares in the last quarter. Institutional investors own 49.52% of the company’s stock.

AXT Trading Down 3.1 %

NASDAQ AXTI traded down $0.08 during midday trading on Monday, hitting $2.50. The company had a trading volume of 170,843 shares, compared to its average volume of 1,090,252. The firm has a 50-day moving average price of $2.46 and a 200-day moving average price of $3.14. The company has a market capitalization of $111.00 million, a PE ratio of -6.25 and a beta of 2.23. AXT has a twelve month low of $1.89 and a twelve month high of $5.64.

AXT (NASDAQ:AXTI – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $27.92 million during the quarter, compared to the consensus estimate of $26.50 million. AXT had a negative return on equity of 5.87% and a negative net margin of 14.75%. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. On average, equities analysts anticipate that AXT will post -0.19 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on AXTI. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 target price on shares of AXT in a research report on Friday, August 2nd. Wedbush reissued an “outperform” rating and set a $6.00 target price on shares of AXT in a report on Monday, July 29th. Finally, StockNews.com lowered shares of AXT from a “hold” rating to a “sell” rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, AXT currently has a consensus rating of “Moderate Buy” and an average target price of $5.38.

Check Out Our Latest Research Report on AXT

AXT Company Profile

(Get Free Report)

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.

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