Arxis, Inc. (NASDAQ:ARXS) Sees Large Increase in Short Interest
by Renee Jackson · The Cerbat GemArxis, Inc. (NASDAQ:ARXS – Get Free Report) was the target of a significant increase in short interest in the month of 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 trading volume of 3,447,228 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.4% of the company’s shares are short sold.
Arxis Trading Down 4.2%
Arxis stock traded down $1.51 during midday trading on Friday, hitting $34.59. 832,054 shares of the company’s stock were exchanged, compared to its average volume of 1,355,177. Arxis has a 12 month low of $34.44 and a 12 month high of $39.45.
Analyst Upgrades and Downgrades
ARXS has been the topic of several recent analyst reports. Wells Fargo & Company initiated coverage on shares of Arxis in a research note on Monday, May 11th. They issued an “overweight” rating and a $42.00 price target on the stock. Jefferies Financial Group initiated 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. Rothschild & Co Redburn initiated coverage on shares of Arxis in a research note on Monday, May 11th. They issued a “buy” rating and a $40.00 price target on the stock. UBS Group set a $53.00 price target on shares of Arxis in a research note on Monday, May 11th. Finally, Wolfe Research initiated coverage on shares of Arxis in a research note on Monday, May 11th. They issued an “outperform” rating and a $43.00 price target on the stock. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.27.
Get Our Latest Research Report on Arxis
Insiders Place Their Bets
In other news, insider Jason Aaron Roth bought 60,000 shares of Arxis 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 $1,680,000.00. Following the completion of the purchase, the insider owned 395,515 shares in the company, valued at $11,074,420. The trade was a 17.88% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen Duane Oetgen bought 25,000 shares of Arxis stock in a transaction dated Friday, April 17th. The stock was purchased at an average cost of $28.00 per share, for a total transaction of $700,000.00. Following the purchase, the director owned 30,357 shares of the company’s stock, valued at approximately $849,996. This trade represents a 466.68% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 201,564 shares of company stock valued at $5,643,792.
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.