AXT Inc (NASDAQ:AXTI) Short Interest Down 9.9% in May

AXT Inc (NASDAQ:AXTI) was the recipient of a large decrease in short interest in May. As of May 31st, there was short interest totalling 2,255,000 shares, a decrease of 9.9% from the April 30th total of 2,504,100 shares. Currently, 6.4% of the shares of the stock are sold short. Based on an average daily volume of 356,900 shares, the days-to-cover ratio is presently 6.3 days.

AXTI has been the subject of a number of research reports. Zacks Investment Research upgraded FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 price objective for the company in a report on Tuesday, June 25th. ValuEngine cut Willdan Group from a “buy” rating to a “hold” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $6.25.

AXTI stock traded up $0.01 during trading on Friday, hitting $4.00. 186,915 shares of the company traded hands, compared to its average volume of 224,461. The firm has a market capitalization of $160.40 million, a price-to-earnings ratio of 16.67, a PEG ratio of 2.01 and a beta of 1.45. AXT has a 1 year low of $3.55 and a 1 year high of $9.38. The stock has a 50-day moving average of $4.12.

AXT (NASDAQ:AXTI) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. The company had revenue of $20.20 million during the quarter, compared to analysts’ expectations of $20.69 million. AXT had a return on equity of 2.97% and a net margin of 5.78%. AXT’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.07 EPS. On average, equities analysts expect that AXT will post 0.13 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted its holdings in AXT by 507.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,930 shares of the semiconductor company’s stock worth $35,000 after buying an additional 6,625 shares during the period. First Trust Advisors LP lifted its holdings in AXT by 18.8% in the 4th quarter. First Trust Advisors LP now owns 63,426 shares of the semiconductor company’s stock worth $276,000 after buying an additional 10,016 shares during the period. Rhumbline Advisers lifted its holdings in AXT by 42.5% in the 4th quarter. Rhumbline Advisers now owns 52,855 shares of the semiconductor company’s stock worth $230,000 after buying an additional 15,765 shares during the period. Geode Capital Management LLC lifted its holdings in AXT by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 393,732 shares of the semiconductor company’s stock worth $1,712,000 after buying an additional 17,921 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in AXT by 13.2% in the 4th quarter. Bank of New York Mellon Corp now owns 196,886 shares of the semiconductor company’s stock worth $856,000 after buying an additional 22,968 shares during the period. Institutional investors and hedge funds own 57.72% of the company’s stock.

About AXT

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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