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

Arxis, Inc. (NASDAQ:ARXS) saw a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 4,919,028 shares, a growth of 151.1% from the June 15th total of 1,958,941 shares. Currently, 1.2% of the company’s stock are short sold. Based on an average daily trading volume, of 1,751,328 shares, the short-interest ratio is currently 2.8 days.

Analysts Set New Price Targets

A number of research firms have weighed in on ARXS. Wells Fargo & Company raised their price objective on shares of Arxis from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Robert W. Baird began coverage on shares of Arxis in a report on Monday, May 11th. They issued an “outperform” rating and a $55.00 target price for the company. Zacks Research raised shares of Arxis to a “hold” rating in a research report on Tuesday, May 12th. Morgan Stanley lifted their price target on shares of Arxis from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Finally, UBS Group set a $53.00 price objective on shares of Arxis in a research note on Monday, May 11th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.64.

Insider Buying and Selling at Arxis

In other Arxis news, insider Azad Sid Badakhsh bought 36,000 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were acquired at an average price of $28.00 per share, with a total value of $1,008,000.00. Following the transaction, the insider owned 403,864 shares of the company’s stock, valued at approximately $11,308,192. The trade was a 9.79% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen Duane Oetgen bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were acquired at an average price of $28.00 per share, with a total value of $700,000.00. Following the purchase, the director owned 30,357 shares of the company’s stock, valued at $849,996. The trade was a 466.68% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 201,564 shares of company stock worth $5,643,792.

Arxis Stock Performance

Shares of ARXS opened at $42.35 on Tuesday. The business’s 50 day simple moving average is $40.65. Arxis has a 12-month low of $33.15 and a 12-month high of $48.68.

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.