AXT, Inc. (NASDAQ:AXTI) Short Interest Up 5.6% in November

AXT, Inc. (NASDAQ:AXTI - Get Free Report) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 656,700 shares, a growth of 5.6% from the November 15th total of 622,100 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily volume of 376,500 shares, the days-to-cover ratio is currently 1.7 days.

Wall Street Analyst Weigh In

AXTI has been the topic of a number of analyst reports. StockNews.com cut AXT from a "hold" rating to a "sell" rating in a research report on Monday, September 30th. Needham & Company LLC reissued a "buy" rating and issued a $5.00 price objective on shares of AXT in a report on Friday, November 1st. Finally, Northland Securities reduced their target price on AXT from $6.00 to $5.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, AXT presently has a consensus rating of "Moderate Buy" and an average price target of $5.30.

AXT Stock Down 3.5 %

Shares of AXT stock traded down $0.08 during mid-day trading on Monday, hitting $2.23. The stock had a trading volume of 179,000 shares, compared to its average volume of 962,915. The firm has a 50-day moving average of $2.26 and a two-hundred day moving average of $2.73. The firm has a market cap of $99.79 million, a P/E ratio of -8.92 and a beta of 2.15. AXT has a 12-month low of $1.73 and a 12-month high of $5.64.

AXT (NASDAQ:AXTI - Get Free Report) last posted its earnings results on Thursday, October 31st. The semiconductor company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.01). The company had revenue of $23.65 million during the quarter, compared to analyst estimates of $25.98 million. AXT had a negative net margin of 10.73% and a negative return on equity of 4.58%. During the same period in the previous year, the company earned ($0.14) EPS. Sell-side analysts expect that AXT will post -0.22 earnings per share for the current year.

Institutional Trading of AXT

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC purchased a new position in AXT in the third quarter valued at $85,000. Geode Capital Management LLC grew its position in shares of AXT by 1.7% during the third quarter. Geode Capital Management LLC now owns 464,022 shares of the semiconductor company's stock worth $1,123,000 after buying an additional 7,577 shares in the last quarter. Systematic Financial Management LP increased its stake in shares of AXT by 13.0% during the third quarter. Systematic Financial Management LP now owns 1,477,169 shares of the semiconductor company's stock worth $3,575,000 after buying an additional 169,406 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in AXT by 10.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 606,417 shares of the semiconductor company's stock valued at $1,468,000 after acquiring an additional 54,891 shares in the last quarter. Finally, GSA Capital Partners LLP raised its holdings in AXT by 25.1% in the third quarter. GSA Capital Partners LLP now owns 301,812 shares of the semiconductor company's stock valued at $730,000 after acquiring an additional 60,623 shares in the last quarter. 49.52% of the stock is currently owned by hedge funds and other institutional investors.

AXT Company Profile

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.