AXT Inc (NASDAQ:AXTI) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 900,600 shares, a drop of 13.4% from the August 30th total of 1,040,000 shares. Based on an average daily trading volume, of 190,500 shares, the days-to-cover ratio is currently 4.7 days. Approximately 2.5% of the company’s stock are sold short.

AXTI stock remained flat at $$2.99 during mid-day trading on Monday. The company’s stock had a trading volume of 131,600 shares, compared to its average volume of 277,588. The stock’s 50 day moving average is $3.47 and its 200 day moving average is $4.17. The company has a market capitalization of $120.63 million, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 58.20 and a beta of 1.51. AXT has a 12-month low of $2.75 and a 12-month high of $6.70.

AXT (NASDAQ:AXTI) last posted its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $0.04 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.04. The firm had revenue of $24.80 million during the quarter, compared to the consensus estimate of $24.11 million. AXT had a return on equity of 1.68% and a net margin of 3.36%. The business’s revenue was down 8.6% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share.

A number of research analysts recently issued reports on the company. Northland Securities reiterated a “buy” rating on shares of AXT in a report on Thursday, October 3rd. ValuEngine upgraded AXT from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Zacks Investment Research downgraded AXT from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Finally, Dougherty & Co downgraded AXT from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. AXT currently has a consensus rating of “Buy” and a consensus target price of $5.38.

Hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC bought a new position in AXT in the second quarter valued at approximately $54,000. Eidelman Virant Capital bought a new position in shares of AXT during the 2nd quarter worth approximately $59,000. Jefferies Group LLC bought a new position in shares of AXT during the 2nd quarter worth approximately $59,000. A.R.T. Advisors LLC bought a new position in shares of AXT during the 2nd quarter worth approximately $85,000. Finally, Dalton Greiner Hartman Maher & Co. bought a new position in shares of AXT during the 3rd quarter worth approximately $209,000. Hedge funds and other institutional investors own 58.07% of the company’s stock.

AXT Company Profile

AXT, Inc researches, develops, and produces compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide (InP) for use in fiber optic lasers and detectors, passive optical networks, data center connectivity, silicon photonics, photonic integrated circuits, terrestrial solar cells, radio frequency amplifier and switching, infrared light-emitting diode (LEDs) motion control, and infrared thermal imaging.

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