Arxis (NASDAQ:ARXS) Shares Up 0.5% – Here’s Why

Arxis, Inc. (NASDAQ:ARXS)’s stock price rose 0.5% during mid-day trading on Friday . The stock traded as high as $44.68 and last traded at $44.44. 3,028,345 shares were traded during trading, an increase of 144% from the average daily volume of 1,239,264 shares. The stock had previously closed at $44.24.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. UBS Group set a $53.00 target price on shares of Arxis in a report on Monday, May 11th. Morgan Stanley upped their price target on shares of Arxis from $44.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Wells Fargo & Company increased their price target on shares of Arxis from $42.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Rothschild & Co Redburn initiated coverage on shares of Arxis in a research note on Monday, May 11th. They set a “buy” rating and a $40.00 price objective for the company. Finally, The Goldman Sachs Group assumed coverage on Arxis in a research note on Monday, May 11th. They issued a “buy” rating and a $53.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.27.

Arxis Price Performance

The company’s 50 day simple moving average is $38.92.

Arxis (NASDAQ:ARXS) last announced its earnings results on Wednesday, May 27th. The company reported $999.00 earnings per share for the quarter.

Insider Buying and Selling at Arxis

In other news, insider Kevin Scott Perhamus bought 53,600 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were purchased at an average price of $28.00 per share, for a total transaction of $1,500,800.00. Following the completion of the transaction, the insider owned 3,573,133 shares in the company, valued at $100,047,724. The trade was a 1.52% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen Duane Oetgen bought 25,000 shares of the stock in a transaction on Friday, April 17th. The stock was purchased at an average cost of $28.00 per share, with a total value of $700,000.00. Following the completion of the purchase, the director directly owned 30,357 shares in the company, valued at $849,996. This trade represents a 466.68% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 201,564 shares of company stock valued at $5,643,792.

Arxis Company Profile

We are a leading designer and manufacturer of proprietary, mission-critical electronic and mechanical components engineered for cutting-edge performance in extreme environments. Leveraging significant intellectual property (“IP”) and world-class engineering capabilities, we design and deliver innovative solutions that address some of our customers’ most complex performance needs. Arxis is the result of a deliberate and disciplined strategy executed by our sponsor, Arcline, and the Arxis management team to create a purpose-built, cohesive business through targeted acquisitions with similar product and end market characteristics.