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AXT (NASDAQ:AXTI)’s share price hit a new 52-week high during trading on Wednesday , Stock Ratings News reports. The company traded as high as $2.73 and last traded at $2.68, with a volume of 219,221 shares traded. The stock had previously closed at $2.62.

Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of AXT from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 5th. They now have a $2.70 price target on the stock. Analysts at B. Riley reiterated a “neutral” rating on shares of AXT in a research note on Friday, August 1st. They now have a $2.50 price target on the stock, up previously from $2.40.

The stock has a 50-day moving average of $2.32 and a 200-day moving average of $2.24. The company’s market cap is $89.4 million.

AXT (NASDAQ:AXTI) last issued its quarterly earnings data 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. On average, analysts predict that AXT will post $-0.05 earnings per share 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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