Arxis (NASDAQ:ARXS) Stock Price Up 12.3% – Time to Buy?

Arxis, Inc. (NASDAQ:ARXS)’s stock price rose 12.3% during mid-day trading on Tuesday . The stock traded as high as $39.21 and last traded at $39.08. Approximately 905,168 shares were traded during trading, a decline of 23% from the average daily volume of 1,170,009 shares. The stock had previously closed at $34.80.

Wall Street Analysts Forecast Growth

ARXS has been the topic of several recent analyst reports. Royal Bank Of Canada initiated coverage on shares of Arxis in a research note on Monday, May 11th. They set a “sector perform” rating and a $39.00 target price on the stock. Robert W. Baird started coverage on shares of Arxis in a research note on Monday, May 11th. They issued an “outperform” rating and a $55.00 price target on the stock. The Goldman Sachs Group started coverage on shares of Arxis in a research note on Monday, May 11th. They issued a “buy” rating and a $53.00 price target on the stock. Citigroup started coverage on shares of Arxis in a research note on Monday, May 11th. They issued a “buy” rating and a $42.00 price target on the stock. Finally, Morgan Stanley started coverage on shares of Arxis in a research note on Monday, May 11th. They issued an “overweight” rating and a $44.00 price target on the stock. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Arxis has an average rating of “Moderate Buy” and an average price target of $45.27.

Arxis Stock Up 13.6%

Insider Activity

In other Arxis news, Director Stephen Duane Oetgen bought 25,000 shares of the stock in a transaction on Friday, April 17th. The shares were purchased at an average cost of $28.00 per share, with a total value of $700,000.00. Following the completion of the transaction, the director directly owned 30,357 shares of the company’s stock, valued at $849,996. This represents a 466.68% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ross Bradley Sealfon bought 12,500 shares of the stock in a transaction on Friday, April 17th. The shares were acquired at an average cost of $28.00 per share, for a total transaction of $350,000.00. Following the completion of the transaction, the insider directly owned 1,102,807 shares of the company’s stock, valued at approximately $30,878,596. The trade was a 1.15% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders acquired 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.