Arxis, Inc. (NASDAQ:ARXS) Short Interest Update

Arxis, Inc. (NASDAQ:ARXS – Get Free Report) saw a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 2,922,498 shares, a decline of 40.6% from the June 30th total of 4,919,028 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily volume of 864,472 shares, the days-to-cover ratio is currently 3.4 days.

Arxis Stock Performance

Shares of ARXS stock traded up $5.70 during trading hours on Thursday, hitting $48.17. The company had a trading volume of 270,960 shares, compared to its average volume of 1,123,730. The business’s fifty day moving average is $42.36. Arxis has a fifty-two week low of $33.15 and a fifty-two week high of $48.68.

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Arxis (NASDAQ:ARXS – Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.35. The company had revenue of $500.73 million during the quarter. Arxis’s quarterly revenue was up 25.0% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ARXS shares. Morgan Stanley raised their price target on shares of Arxis from $44.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Citigroup increased their price objective on Arxis from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Rothschild & Co Redburn began coverage on Arxis in a research report on Monday, May 11th. They issued a “buy” rating and a $40.00 target price on the stock. Royal Bank Of Canada upped their price target on Arxis from $39.00 to $46.00 and gave the company a “sector perform” rating in a research note on Friday, May 29th. Finally, Robert W. Baird assumed coverage on Arxis in a report on Monday, May 11th. They set an “outperform” rating and a $55.00 price target for the company. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $49.64.

Check Out Our Latest Analysis on ARXS

About Arxis

(Get Free Report)

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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