Arxis, Inc. (NASDAQ:ARXS – Get Free Report)’s stock price traded up 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 traded hands during trading, an increase of 144% from the average daily volume of 1,239,264 shares. The stock had previously closed at $44.24.
Analyst Upgrades and Downgrades
ARXS has been the subject of several recent analyst reports. Zacks Research raised Arxis to a “hold” rating in a report on Tuesday, May 12th. UBS Group set a $53.00 price objective on shares of Arxis in a research report on Monday, May 11th. William Blair started coverage on shares of Arxis in a research note on Monday, May 11th. They issued an “outperform” rating for the company. Citigroup boosted their target price on shares of Arxis from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Wolfe Research assumed coverage on shares of Arxis in a research note on Monday, May 11th. They set an “outperform” rating and a $43.00 price target on the stock. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.27.
Read Our Latest Report on Arxis
Arxis Stock Up 0.5%
Arxis (NASDAQ:ARXS – Get Free Report) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $999.00 earnings per share for the quarter.
Insider Transactions at Arxis
In other Arxis news, insider Ross Bradley Sealfon purchased 12,500 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were bought at an average price of $28.00 per share, for a total transaction of $350,000.00. Following the acquisition, the insider owned 1,102,807 shares in the company, valued at $30,878,596. This represents a 1.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Patrick E. Allen purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was acquired at an average price of $28.00 per share, for a total transaction of $280,000.00. Following the acquisition, the director owned 15,357 shares in the company, valued at $429,996. This trade represents a 186.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 201,564 shares of company stock valued at $5,643,792 over the last quarter.
About Arxis
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.
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