AXT, Inc. (AXTI) Formed Wedge Down Chart Pattern; Sellers Are Thriving

March 20, 2018 - By Vivian Park

Investors sentiment decreased to 1.21 in Q3 2017. Its down 0.28, from 1.49 in 2017Q2. It dived, as 14 investors sold AXT, Inc. shares while 25 reduced holdings. 20 funds opened positions while 27 raised stakes. 23.45 million shares or 1.37% less from 23.77 million shares in 2017Q2 were reported.
Pacific Ridge Prns Lc has 1.85% invested in AXT, Inc. (NASDAQ:AXTI) for 714,174 shares. Driehaus Capital Management Limited Liability has 950,913 shares for 0.34% of their portfolio. Herald Limited owns 150,000 shares. Moreover, California State Teachers Retirement has 0% invested in AXT, Inc. (NASDAQ:AXTI). Wells Fargo & Co Mn holds 0% of its portfolio in AXT, Inc. (NASDAQ:AXTI) for 469,913 shares. Illinois-based Peak6 L P has invested 0% in AXT, Inc. (NASDAQ:AXTI). The Massachusetts-based Rhumbline Advisers has invested 0% in AXT, Inc. (NASDAQ:AXTI). Moreover, Thompson Siegel Walmsley Limited Co has 0% invested in AXT, Inc. (NASDAQ:AXTI) for 5,400 shares. Morgan Stanley holds 0% of its portfolio in AXT, Inc. (NASDAQ:AXTI) for 142,326 shares. Metropolitan Life New York reported 0% in AXT, Inc. (NASDAQ:AXTI). Bnp Paribas Arbitrage stated it has 0% in AXT, Inc. (NASDAQ:AXTI). Eam invested in 623,639 shares. Perritt Capital Management Inc reported 442,698 shares or 1.06% of all its holdings. Insight Capital & Mngmt Incorporated stated it has 0.65% of its portfolio in AXT, Inc. (NASDAQ:AXTI). Citigroup Inc owns 123 shares.

The stock of AXT, Inc. (AXTI) formed a down wedge with $7.47 target or 3.00 % below today’s $7.70 share price. The 8 months wedge indicates high risk for the $296.97 million company. If the $7.47 price target is reached, the company will be worth $8.91 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 1.32% or $0.1 during the last trading session, reaching $7.7. About 28,622 shares traded. AXT, Inc. (NASDAQ:AXTI) has risen 115.17% since March 20, 2017 and is uptrending. It has outperformed by 98.47% the S&P500.

Analysts await AXT, Inc. (NASDAQ:AXTI) to report earnings on April, 25. They expect $0.08 earnings per share, up 300.00 % or $0.06 from last year’s $0.02 per share. AXTI’s profit will be $3.09 million for 24.06 P/E if the $0.08 EPS becomes a reality. After $0.08 actual earnings per share reported by AXT, Inc. for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

AXT, Inc. (NASDAQ:AXTI) Ratings Coverage

Among 8 analysts covering AXT Inc (NASDAQ:AXTI), 6 have Buy rating, 0 Sell and 2 Hold. Therefore 75% are positive. AXT Inc had 16 analyst reports since December 9, 2015 according to SRatingsIntel. Northland Capital maintained it with “Buy” rating and $11.0 target in Thursday, October 26 report. The stock has “Buy” rating by Northland Capital on Wednesday, September 6. The company was maintained on Thursday, October 27 by Needham. The rating was downgraded by B. Riley & Co to “Neutral” on Friday, March 17. Dougherty maintained the shares of AXTI in report on Friday, June 16 with “Buy” rating. The rating was maintained by B. Riley & Co with “Neutral” on Thursday, October 26. The firm earned “Buy” rating on Thursday, October 26 by Needham. The firm has “Neutral” rating by B. Riley & Co given on Thursday, February 22. Needham maintained AXT, Inc. (NASDAQ:AXTI) on Thursday, February 23 with “Buy” rating. Dougherty & Company initiated the shares of AXTI in report on Monday, February 13 with “Buy” rating.

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