Accelerant (NYSE:ARX) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Accelerant Holdings (NYSE:ARX)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.84 and traded as high as $15.00. Accelerant shares last traded at $14.3650, with a volume of 1,075,847 shares.

Analyst Ratings Changes

Several research firms have recently commented on ARX. Wells Fargo & Company upped their price target on shares of Accelerant from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Morgan Stanley upped their price target on shares of Accelerant from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Raymond James Financial upped their price target on shares of Accelerant from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Weiss Ratings lowered shares of Accelerant from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 27th. Finally, Piper Sandler upped their price target on shares of Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Accelerant has a consensus rating of “Moderate Buy” and a consensus target price of $19.45.

Accelerant Stock Down 4.2%

The stock’s 50-day moving average is $14.36 and its 200-day moving average is $13.84. The stock has a market cap of $3.13 billion and a P/E ratio of -2.06. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17.

Accelerant (NYSE:ARX) last announced its earnings results on Wednesday, May 13th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $273.20 million during the quarter. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The company’s revenue was up 53.5% on a year-over-year basis. As a group, research analysts anticipate that Accelerant Holdings will post 0.73 earnings per share for the current fiscal year.

Insider Transactions at Accelerant

In related news, CFO Jay Michael Green sold 50,000 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $12.77, for a total value of $638,500.00. Following the completion of the transaction, the chief financial officer owned 1,175,589 shares in the company, valued at $15,012,271.53. This represents a 4.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 66.59% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Accelerant

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Security Benefit Life Insurance Co. KS bought a new position in shares of Accelerant during the 3rd quarter valued at about $80,797,000. Capital World Investors bought a new position in shares of Accelerant during the 3rd quarter valued at about $85,666,000. Barings LLC bought a new position in shares of Accelerant during the 3rd quarter valued at about $46,370,000. Alliancebernstein L.P. bought a new position in shares of Accelerant during the 3rd quarter valued at about $41,529,000. Finally, Balyasny Asset Management L.P. boosted its position in shares of Accelerant by 35.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,733,595 shares of the technology company’s stock valued at $44,694,000 after purchasing an additional 714,811 shares in the last quarter.

About Accelerant

Aeroflex Holding Corp. (Aeroflex Holding) is a provider of radio frequency (RF) and microwave integrated circuits, components and systems used in the design, development and maintenance of wireless communication systems. The Company’s solutions include microelectronic components and test and measurement equipment used by companies in the space, avionics and defense; commercial wireless communications, and medical and other markets. Its products include a range of RF, microwave and millimeter wave microelectronic components, integrated circuits (ICs), and analog and mixed-signal devices.