Hedge Funds Are Buying AXT Inc (AXTI)

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As aggregate interest increased, some big names were leading the bulls’ herd. Algert Coldiron Investors, led by Peter Algert and Kevin Coldiron, initiated the biggest position in AXT Inc (NASDAQ:AXTI). According to its latest 13F filing, the fund had $0.4 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also initiated a $0.2 million position during the quarter. The following funds were also among the new AXTI investors: Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk’s GRT Capital Partners, Ken Griffin’s Citadel Investment Group, and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as AXT Inc (NASDAQ:AXTI) but similarly valued. We will take a look at Layne Christensen Company (NASDAQ:LAYN), Era Group Inc (NYSE:ERA), Century Casinos, Inc. (NASDAQ:CNTY), and Mediwound Ltd (NASDAQ:MDWD). This group of stocks’ market caps resemble AXTI’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
LAYN 7 58689 1
ERA 7 25835 -2
CNTY 6 36231 0
MDWD 5 7250 0

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $32 million. That figure was $20 million in AXTI’s case. Layne Christensen Company (NASDAQ:LAYN) is the most popular stock in this table. On the other hand Mediwound Ltd (NASDAQ:MDWD) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks AXT Inc (NASDAQ:AXTI) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none.

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