Arxis, Inc. (NASDAQ:ARXS) Sees Large Increase in Short Interest

Arxis, Inc. (NASDAQ:ARXSGet Free Report) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 4,919,028 shares, an increase of 151.1% from the June 15th total of 1,958,941 shares. Based on an average daily volume of 1,751,328 shares, the days-to-cover ratio is currently 2.8 days. Approximately 1.2% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Zacks Research upgraded Arxis to a “hold” rating in a research report on Tuesday, May 12th. Robert W. Baird started coverage on shares of Arxis in a report on Monday, May 11th. They issued an “outperform” rating and a $55.00 target price on the stock. The Goldman Sachs Group assumed coverage on Arxis in a report on Monday, May 11th. They set a “buy” rating and a $53.00 target price on the stock. Wolfe Research initiated coverage on Arxis in a report on Monday, May 11th. They issued an “outperform” rating and a $43.00 price target for the company. Finally, Citigroup lifted their price objective on Arxis from $50.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.64.

View Our Latest Stock Report on ARXS

Insider Transactions at Arxis

In other Arxis news, insider Ross Bradley Sealfon bought 12,500 shares of the stock in a transaction on Friday, April 17th. The shares were purchased at an average price of $28.00 per share, with a total value of $350,000.00. Following the acquisition, the insider directly owned 1,102,807 shares of the company’s stock, valued at $30,878,596. This represents a 1.15% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jason Aaron Roth bought 60,000 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were acquired at an average price of $28.00 per share, for a total transaction of $1,680,000.00. Following the completion of the transaction, the insider owned 395,515 shares in the company, valued at $11,074,420. This represents a 17.88% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 201,564 shares of company stock worth $5,643,792.

Arxis Price Performance

Shares of NASDAQ:ARXS opened at $43.00 on Wednesday. Arxis has a 12-month low of $33.15 and a 12-month high of $48.68. The stock’s 50 day moving average price is $40.80.

Arxis Company Profile

(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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