AXT’s “Neutral” Rating Reaffirmed at B. Riley (AXTI)
AXT (NASDAQ:AXTI)‘s stock had its “neutral” rating reiterated by equities research analysts at B. Riley in a research note issued to investors on Friday. They currently have a $2.50 price target on the stock, up from their previous price target of $2.40. B. Riley’s target price would indicate a potential upside of 7.52% from the company’s current price.
Shares of AXT (NASDAQ:AXTI) traded up 6.98% during mid-day trading on Friday, hitting $2.30. 178,116 shares of the company’s stock traded hands. AXT has a 1-year low of $2.04 and a 1-year high of $2.67. The stock’s 50-day moving average is $2.12 and its 200-day moving average is $2.24. The company’s market cap is $74.4 million.
AXT (NASDAQ:AXTI) last announced its earnings results on Thursday, July 31st. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.05) by $0.06. The company had revenue of $21.40 million for the quarter, compared to the consensus estimate of $18.90 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was down 10.2% on a year-over-year basis. Analysts expect that AXT will post $-0.19 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).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.