Arxis (NASDAQ:ARXS) Hits New 52-Week High – Should You Buy?

Arxis, Inc. (NASDAQ:ARXS)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $40.14 and last traded at $39.53, with a volume of 2009724 shares trading hands. The stock had previously closed at $34.80.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ARXS shares. Rothschild & Co Redburn started coverage on shares of Arxis in a research report on Monday, May 11th. They set a “buy” rating and a $40.00 target price for the company. The Goldman Sachs Group started coverage on shares of Arxis in a research report on Monday, May 11th. They set a “buy” rating and a $53.00 target price for the company. Melius Research started coverage on shares of Arxis in a research report on Monday, May 11th. They set a “buy” rating and a $45.00 target price for the company. Royal Bank Of Canada started coverage on shares of Arxis in a research report on Monday, May 11th. They set a “sector perform” rating and a $39.00 target price for the company. Finally, Jefferies Financial Group started coverage on shares of Arxis in a research report on Monday, May 11th. They set a “buy” rating and a $42.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Arxis presently has a consensus rating of “Moderate Buy” and an average target price of $45.27.

Arxis Stock Up 13.6%

Insider Buying and Selling

In other news, Director Patrick E. Allen bought 10,000 shares of Arxis stock in a transaction that occurred on Friday, April 17th. The stock was bought at an average cost of $28.00 per share, with a total value of $280,000.00. Following the acquisition, the director owned 15,357 shares of the company’s stock, valued at $429,996. The trade was a 186.67% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen Duane Oetgen purchased 25,000 shares of the company’s stock in a transaction on Friday, April 17th. The stock was acquired at an average price of $28.00 per share, with a total value of $700,000.00. Following the completion of the purchase, the director directly owned 30,357 shares in the company, valued at $849,996. This trade represents a 466.68% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 201,564 shares of company stock worth $5,643,792 in the last ninety days.

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.