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Shares of ARC Group WorldWide (NASDAQ:ARCW) reached a new 52-week high on Thursday , American Banking & Market News reports. The stock traded as high as $23.47 and last traded at $23.03, with a volume of 59,485 shares. The stock had previously closed at $22.04.

A number of research firms have recently commented on ARCW. Analysts at Brean Capital initiated coverage on shares of ARC Group WorldWide in a research note on Friday, August 29th. They set a “buy” rating and a $30.00 price target on the stock. Separately, analysts at Janney Montgomery Scott initiated coverage on shares of ARC Group WorldWide in a research note on Friday, August 15th. They set a “buy” rating and a $26.00 price target on the stock. Finally, analysts at Canaccord Genuity initiated coverage on shares of ARC Group WorldWide in a research note on Monday, August 11th. They set a “buy” rating and a $20.00 price target on the stock. Five research analysts have rated the stock with a buy rating, ARC Group WorldWide presently has an average rating of “Buy” and an average target price of $24.00.

The stock has a 50-day moving average of $16.63 and a 200-day moving average of $14.7. The company has a market cap of $344.4 million and a price-to-earnings ratio of 53.89.

ARC Group Worldwide, Inc, formerly ARC Wireless Solutions, Inc, incorporated on September 30, 1987, is a provider of wireless network component and wireless network solutions.

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