AXT, Inc. (NASDAQ:AXTI) was the target of unusually large options trading on Thursday. Investors bought 2,414 call options on the stock. This is an increase of approximately 2,524% compared to the typical daily volume of 92 call options.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered AXT from a “buy” rating to a “hold” rating in a research note on Tuesday, December 29th. B. Riley upped their target price on AXT from $6.60 to $10.50 and gave the company a “neutral” rating in a research note on Friday, February 12th. Craig Hallum boosted their price target on AXT from $7.50 to $12.00 in a report on Tuesday, November 17th. Finally, BWS Financial boosted their price target on AXT from $10.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, November 17th.
AXTI stock opened at $12.09 on Friday. The company has a market cap of $499.32 million, a price-to-earnings ratio of -402.87 and a beta of 2.29. The business has a fifty day simple moving average of $11.28 and a 200-day simple moving average of $7.98. AXT has a 52 week low of $1.85 and a 52 week high of $12.93.
AXT (NASDAQ:AXTI) last released its quarterly earnings data on Wednesday, February 17th. The semiconductor company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. AXT had a negative return on equity of 0.46% and a negative net margin of 1.01%. As a group, equities analysts forecast that AXT will post 0.05 earnings per share for the current year.
In other news, CEO Morris S. Young sold 37,000 shares of the business’s stock in a transaction that occurred on Monday, December 7th. The stock was sold at an average price of $9.76, for a total transaction of $361,120.00. Following the sale, the chief executive officer now owns 1,834,089 shares of the company’s stock, valued at approximately $17,900,708.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.10% of the stock is owned by insiders.
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Hedge funds have recently bought and sold shares of the business. Founders Capital Management purchased a new stake in AXT during the 4th quarter worth approximately $29,000. Citigroup Inc. increased its holdings in shares of AXT by 306.7% in the 4th quarter. Citigroup Inc. now owns 7,630 shares of the semiconductor company’s stock valued at $73,000 after acquiring an additional 5,754 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of AXT by 234.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 9,417 shares of the semiconductor company’s stock valued at $58,000 after acquiring an additional 6,602 shares during 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 valued at $90,000 after acquiring an additional 8,885 shares during the last quarter. Finally, Aaron Wealth Advisors bought a new stake in shares of AXT in the 4th quarter valued at approximately $95,000. Institutional investors own 61.83% 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, as well as for 5G.
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7 Transportation Stocks You Can’t Ignore
There is a situation developing in the U.S. that will drive revenue and profits for the transportation industry for many years to come. It started to develop with the pandemic, began to grow when the recession was less than expected, and was later compounded by an economic rebound that is much stronger than expected.
When the pandemic struck and lock-downs took effect manufacturers shuttered their plants and supply chains dried up. When Congress sent out the stimulus checks it sparked a round of consumer spending that has wiped products off of shelves. Now, with inventories across industries reportedly down high-single to low-double digits from the previous year, there is a need for 1) manufacturing to meet demand and rebuild inventory and 2) transportation/shipping that is growing by the day.
We have compiled a list of 7 transportation stocks that can’t be ignored,
