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

Arxis, Inc. (NASDAQ:ARXS) was the target of a significant increase in short interest in April. As of April 30th, there was short interest totaling 1,600,490 shares, an increase of ? from the April 15th total of 0 shares. Based on an average daily trading volume, of 3,447,228 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.4% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Jefferies Financial Group started coverage on Arxis in a research note on Monday, May 11th. They set a “buy” rating and a $42.00 price objective for the company. Zacks Research raised Arxis to a “hold” rating in a report on Tuesday, May 12th. Morgan Stanley assumed coverage on Arxis in a research note on Monday, May 11th. They issued an “overweight” rating and a $44.00 target price for the company. Rothschild & Co Redburn started coverage on shares of Arxis in a research note on Monday, May 11th. They issued a “buy” rating and a $40.00 target price for the company. Finally, Wells Fargo & Company initiated coverage on Arxis in a research report on Monday, May 11th. They set an “overweight” rating and a $42.00 target price for the company. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Arxis currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.27.

Insider Transactions at Arxis

In other news, insider Azad Sid Badakhsh acquired 36,000 shares of the stock in a transaction dated Friday, April 17th. The shares were acquired at an average cost of $28.00 per share, for a total transaction of $1,008,000.00. Following the completion of the transaction, the insider owned 403,864 shares in the company, valued at approximately $11,308,192. This trade represents a 9.79% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kevin Scott Perhamus purchased 53,600 shares of the stock in a transaction on Friday, April 17th. The stock was acquired at an average cost of $28.00 per share, for a total transaction of $1,500,800.00. Following the acquisition, the insider directly owned 3,573,133 shares in the company, valued at approximately $100,047,724. This trade represents a 1.52% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 201,564 shares of company stock worth $5,643,792.

Arxis Stock Performance

NASDAQ ARXS opened at $34.05 on Tuesday. Arxis has a 12 month low of $33.51 and a 12 month high of $39.45.

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.