In the latest trading session, 0.54 million AXT Inc (NASDAQ:AXTI) shares changed hands as the company’s beta touched 2.11. With the company’s most recent per share price at $2.00 changed hands at -$0.21 or -9.73% at last look, the market valuation stands at $89.28M. AXTI’s current price is a discount, trading about -182.0% off its 52-week high of $5.64. The share price had its 52-week low at $1.73, which suggests the last value was 13.5% up since then. When we look at AXT Inc’s average trading volume, we note the 10-day average is 0.35 million shares, with the 3-month average coming to 338.81K.
Analysts gave the AXT Inc (AXTI) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended AXTI as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. AXT Inc’s EPS for the current quarter is expected to be -0.04.
AXT Inc (NASDAQ:AXTI) trade information
Instantly AXTI was in red as seen in intraday trades today. With action -3.16%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -16.88%, with the 5-day performance at -3.16% in the red. However, in the 30-day time frame, AXT Inc (NASDAQ:AXTI) is -5.45% down. Looking at the short shares, we see there were 0.62 million shares sold at short interest cover period of 1.64 days.
The consensus price target for the stock as assigned by Wall Street analysts is 5.25, meaning bulls need an upside of 61.9% from its recent market value. According to analyst projections, AXTI’s forecast low is 5 with 6 as the target high. To hit the forecast high, the stock’s price needs a -200.0% plunge from its current level, while the stock would need to soar -150.0% for it to hit the projected low.
AXT Inc (AXTI) estimates and forecasts
Data shows that the AXT Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -39.91% over the past 6 months, a 58.82% in annual growth rate that is considerably higher than the industry average of -2.80%. Year-over-year growth is forecast to reach 29.54% up from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of 23.93M. 5 analysts are of the opinion that AXT Inc’s revenue for the current quarter will be 23.85M. The company’s revenue for the corresponding quarters a year ago was 20.43M and 22.69M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 17.16%. The estimates for the next quarter sales put growth at 5.13%.
The 2024 estimates are for AXT Inc earnings to increase by 60.00%, but the outlook for the next 5-year period is at 20.00% per year.
AXTI Dividends
AXT Inc is expected to release its next quarterly earnings report in January.
AXT Inc (NASDAQ:AXTI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 7.53% of AXT Inc shares while 50.40% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 54.51%. There are 50.40% institutions holding the AXT Inc stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 5.3416% of the shares, roughly 2.3 million AXTI shares worth $7.76 million.
NEEDHAM INVESTMENT MANAGEMENT LLC holds the second largest percentage of outstanding shares, with 3.5849% or 1.54 million shares worth $5.21 million as of 2024-06-30.
Among Mutual Funds, the top two as of Jun 30, 2024 were Vanguard Total Stock Market Index Fund and Needham Small Cap Growth Fund. With 1.62 shares estimated at $3.19 million under it, the former controlled 3.63% of total outstanding shares. On the other hand, Needham Small Cap Growth Fund held about 2.46% of the shares, roughly 1.1 shares worth around $2.16 million.
