AXT, Inc. (NASDAQ:AXTI) reached a new 52-week high during trading on Friday after B. Riley raised their price target on the stock from $6.60 to $10.50. B. Riley currently has a neutral rating on the stock. AXT traded as high as $12.72 and last traded at $12.72, with a volume of 4649 shares changing hands. The stock had previously closed at $12.19.
Other equities research analysts also recently issued research reports about the company. BWS Financial upped their price target on AXT from $10.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, November 17th. Craig Hallum boosted their price objective on AXT from $7.50 to $12.00 in a research report on Tuesday, November 17th. Finally, Zacks Investment Research cut AXT from a “buy” rating to a “hold” rating in a research report on Tuesday, December 29th.
In related news, CEO Morris S. Young sold 12,000 shares of the stock in a transaction dated Monday, November 16th. The stock was sold at an average price of $8.25, for a total transaction of $99,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Morris S. Young sold 37,000 shares of the stock in a transaction dated Monday, December 7th. The stock was sold at an average price of $9.76, for a total value of $361,120.00. Following the sale, the chief executive officer now directly owns 1,834,089 shares in the company, valued at approximately $17,900,708.64. The disclosure for this sale can be found here. Insiders have sold a total of 86,000 shares of company stock worth $830,490 in the last ninety days. Insiders own 8.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Founders Capital Management purchased a new stake in AXT in the 4th quarter worth approximately $29,000. Citigroup Inc. increased its position in AXT by 306.7% during the 4th quarter. Citigroup Inc. now owns 7,630 shares of the semiconductor company’s stock valued at $73,000 after buying an additional 5,754 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in AXT by 234.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 9,417 shares of the semiconductor company’s stock valued at $58,000 after buying an additional 6,602 shares in the last quarter. Winslow Evans & Crocker Inc. increased its holdings in shares of AXT by 1,609.6% in the 4th quarter. Winslow Evans & Crocker Inc. now owns 9,437 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 8,885 shares in the last quarter. Finally, Aaron Wealth Advisors bought a new stake in shares of AXT in the 4th quarter worth $95,000. Institutional investors and hedge funds own 61.83% of the company’s stock.
The firm has a market cap of $525.34 million, a P/E ratio of -406.20 and a beta of 2.29. The stock has a fifty day simple moving average of $10.94 and a 200 day simple moving average of $7.74.
About AXT (NASDAQ:AXTI)
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, as well as for 5G.
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