AXT, Inc. (NASDAQ:AXTI - Get Free Report) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 999,900 shares, a growth of 85.2% from the February 13th total of 540,000 shares. Based on an average daily trading volume, of 601,600 shares, the days-to-cover ratio is currently 1.7 days. Currently, 2.4% of the shares of the company are sold short.
Institutional Investors Weigh In On AXT
A number of hedge funds have recently added to or reduced their stakes in the stock. Pacific Ridge Capital Partners LLC grew its holdings in AXT by 65.4% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,937,424 shares of the semiconductor company's stock worth $4,204,000 after acquiring an additional 766,122 shares during the last quarter. Systematic Financial Management LP grew its holdings in AXT by 5.0% during the 4th quarter. Systematic Financial Management LP now owns 1,551,380 shares of the semiconductor company's stock worth $3,366,000 after acquiring an additional 74,211 shares during the last quarter. Kennedy Capital Management LLC grew its holdings in AXT by 13.1% during the 4th quarter. Kennedy Capital Management LLC now owns 915,460 shares of the semiconductor company's stock worth $1,987,000 after acquiring an additional 106,121 shares during the last quarter. White Pine Capital LLC grew its holdings in AXT by 0.8% during the 4th quarter. White Pine Capital LLC now owns 668,499 shares of the semiconductor company's stock worth $1,451,000 after acquiring an additional 5,246 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of AXT by 10.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 606,417 shares of the semiconductor company's stock valued at $1,468,000 after purchasing an additional 54,891 shares during the last quarter. Institutional investors own 49.52% of the company's stock.
AXT Stock Performance
Shares of NASDAQ:AXTI opened at $1.60 on Friday. AXT has a 52 week low of $1.29 and a 52 week high of $5.64. The company's fifty day moving average is $1.99 and its 200-day moving average is $2.19. The company has a market capitalization of $71.60 million, a PE ratio of -5.71 and a beta of 2.17.
AXT (NASDAQ:AXTI - Get Free Report) last issued its earnings results on Thursday, February 20th. The semiconductor company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.08). AXT had a negative net margin of 11.70% and a negative return on equity of 5.27%. The firm had revenue of $25.11 million during the quarter, compared to analyst estimates of $23.94 million. On average, analysts forecast that AXT will post -0.12 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on AXTI. Needham & Company LLC restated a "buy" rating and issued a $5.00 price objective on shares of AXT in a research note on Friday, February 21st. B. Riley restated a "buy" rating and issued a $6.00 price objective (up from $5.50) on shares of AXT in a research note on Friday, February 21st. Finally, Wedbush restated an "outperform" rating and issued a $4.50 price objective (down from $5.50) on shares of AXT in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $5.10.
View Our Latest Report on AXTI
About AXT
(
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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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