The stock of AXT, Inc. (NASDAQ:AXTI) is now priced at $6.05 and the shares are 0.41 points up or 7.27% higher compared to its previous closing price of $5.64. The stock had 1.156 million contracts set over the past session. AXTI shares’ daily volume is compared to its average trading volume at 0.377 million shares. However, it has a float of 38.51 million and although its performance was 2.2% over the week, it’s one to watch. Analysts have given the AXTI stock a yearly average price target of $8.03 per share. It means the stock’s upside potential is 32.73% with the AXTI share price recently placing at $5.6903 to $6.2. However, some brokerage firms have priced the stock below the average, including one that has called $6.5.
The shorts are climbing into the AXT, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the AXTI shares have risen. Short interest in the stock represents just 4.48% of its float, but the volume has raised by 63041. The volume of shorted shares rised to 1.726 million from 1.663 million shares over the last two weeks. The average intraday trading volume has been 265116 shares, which means that days to cover moved to roughly 6.51204.
In the last trading session, AXT, Inc. (NASDAQ:AXTI) raised by $0.13 over the week and gained $1.09 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $6.2. The stock recorded its established 52-week high on 09/01/20.
Since 03/16/20, the stock has traded to a low of $1.85 at 227.03%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.03. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, AXT, Inc.’s two-week RSI is 67.15. This suggests that the stock is neutral at the moment and that AXTI shares’ price movement remains stable. The stochastic readings are equally revealing at 77.78% meaning the AXTI share price is currently in oversold territory.
The technical chart shows that the AXTI stock will likely settle at between $6.27 and $6.49 per share. However, if the stock dips below $5.76, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.47.
Currently, the stock is trading in the green of MACD, with a reading of 0.31. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Dougherty & Company cut their recommendation for AXTI from Buy to Neutral in October 03 review. Needham analysts see the stock as a Buy, but they also raised the share’s target price from $10 to $11 in a flash note released to investors on October 26. BWS Financial analysts see the stock as Buy. Nonetheless, the analysts revised the share prices up on July 27, placing it at $12 from $10.
The average rating for the AXTI equity is 2 and is currently gathering a bullish momentum. Of 4 analysts tracking AXT, Inc. polled by Reuters, 0 rated AXTI as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (4) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the AXTI stock price is 33.61X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 31.5. AXT, Inc. has its P/E ratio at 1.3, which means that the stock is currently trading at a discount relative to the 8.1 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for AXT, Inc. (NASDAQ:AXTI) will decrease by about -99.89%, which will see them reach $24.07 million. The company’s full-year revenues are, however, expected to increase by about 10.27%, up from $83.26 million to $91.81 million. AXTI’s expected adjusted earnings should drop almost -150% to end up at $0.01 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -157.14% to record $0.04/share.