AXT (NASDAQ:AXTI) Shares Gap Down – Should You Sell?

by · The Cerbat Gem

AXT Inc (NASDAQ:AXTI – Get Free Report)’s share price gapped down before the market opened on Friday . The stock had previously closed at $10.44, but opened at $9.10. AXT shares last traded at $11.00, with a volume of 3,364,216 shares changing hands.

Analysts Set New Price Targets

AXTI has been the topic of several research reports. Northland Securities set a $10.00 target price on AXT in a research report on Friday, October 31st. Wedbush set a $7.00 price objective on AXT and gave the company an “outperform” rating in a report on Wednesday, October 29th. B. Riley lifted their target price on shares of AXT from $4.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Needham & Company LLC increased their target price on shares of AXT from $5.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of AXT in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.00.

Check Out Our Latest Analysis on AXTI

AXT Stock Performance

The firm has a market cap of $492.98 million, a price-to-earnings ratio of -19.22 and a beta of 2.33. The company has a 50 day moving average price of $5.70 and a 200 day moving average price of $3.30.

Insiders Place Their Bets

In other AXT news, CEO Morris S. Young sold 80,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $8.65, for a total transaction of $692,000.00. Following the completion of the transaction, the chief executive officer owned 2,439,490 shares of the company’s stock, valued at $21,101,588.50. This trade represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Leonard J. Leblanc sold 3,637 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $8.41, for a total transaction of $30,587.17. Following the completion of the transaction, the director owned 118,875 shares in the company, valued at approximately $999,738.75. This represents a 2.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 183,637 shares of company stock valued at $1,616,587 over the last 90 days. 8.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AXTI. White Pine Capital LLC grew its stake in shares of AXT by 2.8% during the second quarter. White Pine Capital LLC now owns 860,411 shares of the semiconductor company’s stock worth $1,798,000 after purchasing an additional 23,467 shares in the last quarter. GSA Capital Partners LLP increased its holdings in shares of AXT by 43.2% in the 1st quarter. GSA Capital Partners LLP now owns 533,264 shares of the semiconductor company’s stock valued at $752,000 after acquiring an additional 160,858 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of AXT by 75.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 530,269 shares of the semiconductor company’s stock worth $748,000 after acquiring an additional 227,333 shares in the last quarter. Acadian Asset Management LLC lifted its stake in AXT by 2.8% during the first quarter. Acadian Asset Management LLC now owns 293,818 shares of the semiconductor company’s stock worth $412,000 after purchasing an additional 8,039 shares during the last quarter. Finally, Creative Planning acquired a new position in AXT in the second quarter valued at approximately $86,000. 49.52% of the stock is currently owned by institutional investors and hedge funds.

About AXT

(Get Free Report)

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.

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