AXT (NASDAQ:AXTI) Shares Cross Above 200-Day Moving Average – Time to Sell?

AXT Inc (NASDAQ:AXTI) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.78 and traded as high as $2.23. AXT shares last traded at $2.17, with a volume of 484,690 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AXTI shares. Wall Street Zen raised shares of AXT to a “sell” rating in a research note on Friday, April 25th. B. Riley dropped their target price on shares of AXT from $6.00 to $4.50 and set a “buy” rating on the stock in a report on Friday, May 2nd. Finally, Wedbush reiterated an “outperform” rating and set a $4.50 target price on shares of AXT in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $4.75.

AXT Stock Performance

The company’s fifty day simple moving average is $1.60 and its 200-day simple moving average is $1.78. The company has a market capitalization of $98.95 million, a P/E ratio of -5.05 and a beta of 1.98.

AXT (NASDAQ:AXTI) last issued its earnings results on Thursday, May 1st. The semiconductor company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). AXT had a negative return on equity of 8.54% and a negative net margin of 19.10%. On average, sell-side analysts predict that AXT Inc will post -0.12 EPS for the current year.

Institutional Trading of AXT

Hedge funds have recently modified their holdings of the company. Algert Global LLC purchased a new stake in shares of AXT during the first quarter valued at about $31,000. Virtu Financial LLC purchased a new stake in shares of AXT during the fourth quarter valued at about $54,000. Jane Street Group LLC purchased a new stake in shares of AXT during the fourth quarter valued at about $60,000. Man Group plc purchased a new position in shares of AXT in the 4th quarter valued at approximately $67,000. Finally, Wedbush Securities Inc. raised its position in shares of AXT by 71.9% in the 4th quarter. Wedbush Securities Inc. now owns 35,237 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 14,737 shares during the last quarter. 49.52% of the stock is owned by hedge funds and other 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.