Arxis, Inc. (NASDAQ:ARXS – Get Free Report) was the target of a large growth in short interest in September. As of September 30th, there was short interest totaling 5,948,422 shares, a growth of 67.1% from the September 15th total of 3,559,814 shares. Based on an average daily trading volume, of 1,334,663 shares, the short-interest ratio is presently 4.5 days. Currently, 1.4% of the company’s stock are sold short.
Hedge Funds Weigh In On Arxis
Several institutional investors have recently bought and sold shares of ARXS. State of Alaska Department of Revenue purchased a new position in Arxis in the 3rd quarter valued at approximately $157,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Arxis during the second quarter worth $207,000. Amundi acquired a new stake in shares of Arxis in the second quarter valued at $358,000. Moody National Bank Trust Division acquired a new stake in shares of Arxis in the third quarter valued at $1,113,000. Finally, IMC Chicago LLC acquired a new stake in shares of Arxis in the second quarter valued at $1,146,000.
Analyst Ratings Changes
ARXS has been the topic of several recent analyst reports. Citigroup upped their target price on Arxis from $61.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Morgan Stanley reissued an “overweight” rating and issued a $62.00 price target on shares of Arxis in a report on Monday, August 3rd. Wells Fargo & Company boosted their price target on Arxis from $52.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Royal Bank Of Canada upgraded shares of Arxis from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $50.00 to $60.00 in a report on Friday, October 2nd. Finally, Jefferies Financial Group restated a “buy” rating and set a $60.00 price objective on shares of Arxis in a report on Sunday, August 2nd. Eleven 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 an average price target of $54.64.
View Our Latest Report on Arxis
Arxis Price Performance
Shares of NASDAQ ARXS opened at $53.81 on Friday. The company has a quick ratio of 3.79, a current ratio of 5.21 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average of $52.20. Arxis has a one year low of $33.15 and a one year high of $61.50.
Arxis (NASDAQ:ARXS – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.35. The business had revenue of $500.73 million during the quarter. Arxis’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, equities research analysts forecast that Arxis will post 0.57 earnings per share for the current fiscal year.
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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