AXT (NASDAQ:AXTI) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

AXT Inc (NASDAQ:AXTI)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.79 and traded as high as $2.03. AXT shares last traded at $1.91, with a volume of 220,026 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AXTI. B. Riley lowered their price target on AXT from $6.00 to $4.50 and set a “buy” rating for the company in a report on Friday, May 2nd. Wall Street Zen upgraded AXT to a “sell” rating in a research report on Friday, April 25th. Needham & Company LLC restated a “buy” rating and set a $5.00 target price on shares of AXT in a report on Friday, February 21st. Finally, Wedbush reiterated an “outperform” rating and issued a $4.50 price target on shares of AXT in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, AXT has an average rating of “Moderate Buy” and an average target price of $4.75.

AXT Stock Down 2.1%

The company has a market capitalization of $87.10 million, a P/E ratio of -4.44 and a beta of 1.98. The business has a fifty day moving average price of $1.50 and a 200 day moving average price of $1.79.

AXT (NASDAQ:AXTI) last announced its earnings results on Thursday, May 1st. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). AXT had a negative net margin of 19.10% and a negative return on equity of 8.54%. As a group, equities analysts forecast that AXT Inc will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On AXT

Several hedge funds have recently made changes to their positions in AXTI. Point72 Asset Management L.P. acquired a new position in AXT during the fourth quarter worth $628,000. Pacific Ridge Capital Partners LLC lifted its position 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 buying an additional 766,122 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of AXT by 5.2% during the 4th quarter. Empowered Funds LLC now owns 145,664 shares of the semiconductor company’s stock worth $316,000 after buying an additional 7,165 shares during the last quarter. Jane Street Group LLC bought a new position in shares of AXT in the 4th quarter valued at about $60,000. Finally, Man Group plc bought a new position in shares of AXT in the 4th quarter valued at about $67,000. 49.52% of the stock is owned by institutional investors.

About AXT

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.