Price Action to Note: What’s Propelling AXT Inc to Increase So Much?

Price Action to Note: What's Propelling AXT Inc to Increase So Much?

The stock of AXT Inc (NASDAQ:AXTI) is a huge mover today! The stock increased 5.06% or $0.25 on September 30, hitting $5.19. About 494,303 shares traded hands or 95.74% up from the average. AXT Inc (NASDAQ:AXTI) has risen 92.97% since February 26, 2016 and is uptrending. It has outperformed by 82.54% the S&P500.
The move comes after 5 months positive chart setup for the $166.42 million company. It was reported on Oct, 1 by Barchart.com. We have $13.44 PT which if reached, will make NASDAQ:AXTI worth $264.61 million more.

Analysts await AXT Inc (NASDAQ:AXTI) to report earnings on November, 3. AXTI’s profit will be $641,310 for 64.88 P/E if the $0.02 EPS becomes a reality. After $0.03 actual EPS reported by AXT Inc for the previous quarter, Wall Street now forecasts -33.33% negative EPS growth.

AXT Inc (NASDAQ:AXTI) Ratings Coverage

Out of 2 analysts covering AXT Inc (NASDAQ:AXTI), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. AXT Inc has been the topic of 2 analyst reports since December 9, 2015 according to StockzIntelligence Inc. Craig Hallum upgraded the stock to “Buy” rating in Tuesday, May 3 report. The firm has “Buy” rating given on Wednesday, December 9 by B. Riley & Co.

According to Zacks Investment Research, “AXT, Inc., designs, develops, manufactures and distributes high-performance compound semiconductor substrates, as well as opto-electronic semiconductor devices such as high-brightness light emitting devices, and vertical cavity surface emitting lasers.”

Insitutional Activity: The institutional sentiment increased to 1.62 in 2016 Q2. Its up 0.77, from 0.85 in 2016Q1. The ratio improved, as 2 funds sold all AXT Inc shares owned while 11 reduced positions. 12 funds bought stakes while 9 increased positions. They now own 13.17 million shares or 0.47% more from 13.11 million shares in 2016Q1.
Blackrock Fund Advisors holds 0% or 84,042 shares in its portfolio. Blackrock Inv Ltd Llc last reported 0% of its portfolio in the stock. Zpr Investment holds 12,434 shares or 0.08% of its portfolio. Deutsche Bank & Trust Ag last reported 232,678 shares in the company. Blackrock Institutional Trust Company Na has 0% invested in the company for 827,231 shares. Geode Capital Ltd Limited Liability Company accumulated 188,769 shares or 0% of the stock. New York State Common Retirement Fund last reported 0% of its portfolio in the stock. Commercial Bank Of America Corp De has invested 0% of its portfolio in AXT Inc (NASDAQ:AXTI). The New York-based Jpmorgan Chase has invested 0% in AXT Inc (NASDAQ:AXTI). Tfs Limited Liability Company has invested 0.01% of its portfolio in AXT Inc (NASDAQ:AXTI). The Pennsylvania-based Nationwide Fund has invested 0% in AXT Inc (NASDAQ:AXTI). Ancora Advsrs Limited Company holds 0.1% or 275,900 shares in its portfolio. Moreover, Eam Ltd Llc has 0.19% invested in AXT Inc (NASDAQ:AXTI) for 404,090 shares. Pacific Ridge Prtnrs Ltd Liability holds 0.9% of its portfolio in AXT Inc (NASDAQ:AXTI) for 623,790 shares. Acadian Asset Management Ltd Limited Liability Company accumulated 0% or 49,615 shares.

Insider Transactions: Since August 29, 2016, the stock had 0 buys, and 1 insider sale for $116,673 net activity. $116,673 worth of AXT Inc (NASDAQ:AXTI) shares were sold by Ochrym Robert G.

More recent AXT Inc (NASDAQ:AXTI) news were published by: Zacks.com which released: “Bull of the Day: AXT Inc (AXTI)” on September 20, 2016. Also Finance.Yahoo.com published the news titled: “Surging Earnings Estimates Signal Good News for AXT Inc. (AXTI)” on September 20, 2016. Globenewswire.com‘s news article titled: “AXT, Inc. Announces Second Quarter 2016 Financial Results” with publication date: July 27, 2016 was also an interesting one.

AXTI Company Profile

AXT, Inc. (AXT), incorporated in November 13, 1997, is a developer and producer of compound and single element semiconductor substrates, also known as wafers. The dominant substrates used in producing semiconductor chips and other electronic circuits are made from silicon. The Firm is engaged in the design, development, manufacture and distribution of compound semiconductor substrates and sale of materials. The Firm provides alternative or specialty materials in the form of substrates or wafers, including compound and single element substrates. The Company’s compound substrates combine indium with phosphorous (InP) or gallium with arsenic (GaAs). The Company’s single element substrates are made from germanium (Ge).

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