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In a recent transaction, Morris Young, Chairman and CEO of AXT Inc . (NASDAQ:AXTI), purchased 30,000 shares of the company’s common stock. The insider buying comes as the stock trades near its 52-week low of $1.30, having declined over 70% in the past year. According to InvestingPro analysis, the stock appears undervalued at current levels. The shares were acquired at a weighted average price of $1.3643 per share, amounting to a total investment of $40,929. These purchases were made on February 25, 2025, and have increased Young’s direct ownership to 2,449,490 shares. This transaction was conducted in the open market, with prices ranging between $1.31 and $1.43 per share. InvestingPro data shows the stock’s RSI indicates oversold conditions, with 17 additional ProTips available to subscribers.
In other recent news, AXT Inc reported its financial results for the fourth quarter of 2024, revealing a revenue of $25.1 million, which fell short of the expected $27.6 million. The company also reported a non-GAAP net loss of $4.3 million, or $0.10 per share, compared to an anticipated loss of $0.02 per share. Despite a year-over-year revenue growth of 22.5% for the quarter, AXT faces challenges due to export restrictions impacting its indium phosphide sales. The company has provided revenue guidance for the first quarter of 2025 between $18 million and $20 million, with an expected non-GAAP net loss per share ranging from $0.13 to $0.15. Analysts from Craig Hallum and Needham have shown interest in the company’s future performance amid these challenges. AXT is undertaking an export permit process to navigate the restrictions, which is expected to cause a delay in indium phosphide sales in the first quarter. Nevertheless, the company remains optimistic about recovering these sales in subsequent quarters.
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