B. Riley Issues Pessimistic Forecast for AXT (NASDAQ:AXTI) Stock Price

AXT (NASDAQ:AXTI) had its price target decreased by research analysts at B. Riley from $6.00 to $4.50 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price objective would suggest a potential upside of 223.74% from the stock’s previous close.

A number of other brokerages have also issued reports on AXTI. Needham & Company LLC restated a “buy” rating and set a $5.00 price target on shares of AXT in a research note on Friday, February 21st. StockNews.com raised AXT to a “sell” rating in a research report on Friday, April 25th. Finally, Wedbush reaffirmed an “outperform” rating and set a $4.50 price target on shares of AXT in a research 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.75.

AXT Price Performance

Shares of NASDAQ AXTI opened at $1.39 on Friday. The stock has a market capitalization of $63.38 million, a P/E ratio of -4.96 and a beta of 1.96. The business’s 50 day moving average is $1.46 and its two-hundred day moving average is $1.92. AXT has a 1-year low of $1.13 and a 1-year high of $4.05.

AXT (NASDAQ:AXTI) last announced its quarterly 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 11.70% and a negative return on equity of 5.27%. As a group, equities research analysts anticipate that AXT will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AXTI. Canandaigua National Bank & Trust Co. acquired a new stake in AXT during the 4th quarter worth about $28,000. Bleakley Financial Group LLC acquired a new stake in AXT during the fourth quarter worth about $29,000. Atlas Brown Inc. purchased a new position in AXT during the fourth quarter valued at approximately $42,000. Virtu Financial LLC acquired a new position in AXT in the fourth quarter valued at approximately $54,000. Finally, Jane Street Group LLC acquired a new position in shares of AXT in the 4th quarter valued at $60,000. Hedge funds and other institutional investors own 49.52% of the company’s stock.

AXT Company Profile

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.