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

NEW YORK ( TheStreet) -- Shares of AXT (Nasdaq: AXTI) were gapping up Thursday morning with an open price 14.6% higher than Wednesday's closing price. The stock closed at $7.25 Wednesday and opened today's trading at $8.31.

The average volume for AXT has been 557,600 shares per day over the past 30 days. AXT has a market cap of $236.9 million and is part of the technology sector and electronics industry. Shares are down 30.6% year to date as of the close of trading on Wednesday.

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 12, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

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, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full AXT Ratings Report.

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