AXT Inc. (AXTI) Soars 15.7% Ahead of Key Updates

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

AXT Inc. climbed by 15.69 percent on Thursday to close at $121.02 apiece, in line with its participation at a conference during the day.

Investors loaded portfolios in anticipation of business updates from its participation in the 26th Annual B. Riley Securities Institutional Investor Conference in Los Angeles, California, on the same day.

For illustration purposes only. Photo by Sergei Starostin on Pexels

It will 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.

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.

While we acknowledge the risk and potential of AXTI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AXTI and that has 10,000% upside potential, check out our report about the cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. 

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1