AXT Stock Gaps Up On Today's Open (AXTI)

NEW YORK ( TheStreet) -- Shares of AXT (Nasdaq: AXTI) were gapping up Wednesday morning with an open price 11.3% higher than Tuesday's closing price. The stock closed at $7.19 Tuesday and opened today's trading at $8.

The average volume for AXT has been 849,800 shares per day over the past 30 days. AXT has a market cap of $213.3 million and is part of the technology sector and electronics industry. Shares are down 31.1% year to date as of the close of trading on Tuesday.

AXT, Inc., together with its subsidiaries, designs, develops, manufactures, and distributes compound and single element semiconductor substrates for wireless communications, lighting display applications, and fiber optic communications applications. The company has a P/E ratio of 11.7, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 17.

TheStreet Ratings rates AXT as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, compelling growth in net income and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full AXT Ratings Report.

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