AXT Inc. Reaches New 12-Month Low at $2.18 (AXTI)
AXT (NASDAQ:AXTI) set a new 52-week low on Friday, Stock Ratings News reports. The company traded as low as $2.18 and last traded at $2.20, with a volume of 74,957 shares. The stock had previously closed at $2.23.
AXTI has been the subject of a number of recent research reports. Analysts at B. Riley downgraded shares of AXT from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, August 1st. They now have a $3.00 price target on the stock, down previously from $4.70. Analysts at Thomson Reuters/Verus downgraded shares of AXT from a “hold” rating to a “sell” rating in a research note to investors on Monday, July 29th.
AXT has a 1-year low of $2.27 and a 1-year high of $3.57. The stock’s 50-day moving average is $2.44 and its 200-day moving average is $2.72. The company’s market cap is $71.8 million.
AXT (NASDAQ:AXTI) last announced its earnings results on Wednesday, July 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.01. The company had revenue of $23.80 million for the quarter, compared to the consensus estimate of $23.13 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Analysts expect that AXT will post $-0.29 EPS for the current fiscal year.
AXT, Inc (NASDAQ:AXTI) through its subsidiaries, is a developer and producer of compound and single element semiconductor substrates, including substrates made from gallium arsenide (GaAs), indium phosphide (InP) and germanium (Ge).
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