AXT Inc. (AXTI) Jumps 6.6%, Investors Gear Up for Business Updates

AXT Inc. (NASDAQ:AXTI) is one of the 10 Stocks With Powerful Gains.

AXT saw its share prices jump by 6.61 percent on Tuesday to close at $112.88 apiece, as investors loaded portfolios ahead of expected business updates, with the company set to participate in three investor conferences this month and the next.

In an updated report, AXT Inc. (NASDAQ:AXTI) announced participation in the 26th Annual B. Riley Securities Institutional Investor Conference in Los Angeles, California, on May 21, to be followed by the 23rd Annual Craig-Hallum Institutional Investor Conference in Minneapolis on May 28. It would also join the Northland Securities Virtual Growth Conference on June 23.

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Investors are expected to watch out for the company’s outlook and growth guidance for the rest of the year, after it adjourned its Annual Stockholders’ Meeting last week due to the lack of a quorum.

In other news, AXT Inc. (NASDAQ:AXTI) earlier this month announced a huge improvement to its earnings performance for the first quarter of the year, with attributable net loss slashed by 81 percent to $1.62 million from $8.798 million in the same period last year. The drop was due to an 84 percent decrease in operating loss, at $1.585 million versus $10.275 million year-on-year.

Revenues also surged by 39 percent to $26.9 million from $19.3 million year-on-year.

Looking ahead, AXT Inc. (NASDAQ:AXTI) posted a highly optimistic outlook about its business, with the company expecting to ride the booming artificial intelligence industry through a strong demand from data center operators.

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