Accelerant (NYSE:ARX) Share Price Crosses Above 200 Day Moving Average – Time to Sell?
by Amy Steele · The Cerbat GemAccelerant Holdings (NYSE:ARX – Get Free Report)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.43 and traded as high as $15.49. Accelerant shares last traded at $15.2210, with a volume of 1,091,417 shares.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the stock. Morgan Stanley lowered their price target on shares of Accelerant from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Citizens Jmp lowered their price target on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a report on Monday, April 13th. Raymond James Financial reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Accelerant in a report on Tuesday, February 17th. TD Cowen lowered their price target on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $20.00 price target on shares of Accelerant in a report on Wednesday, January 7th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Accelerant presently has a consensus rating of “Moderate Buy” and an average price target of $18.17.
View Our Latest Research Report on Accelerant
Accelerant Price Performance
The business’s fifty day simple moving average is $12.17 and its 200-day simple moving average is $13.46. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. The firm has a market cap of $3.22 billion and a P/E ratio of -2.10.
Accelerant (NYSE:ARX – Get Free Report) last issued its earnings results on Wednesday, March 18th. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Accelerant had a negative net margin of 148.33% and a positive return on equity of 67.99%. The business had revenue of $248.40 million for the quarter. Accelerant’s revenue for the quarter was up 30.3% on a year-over-year basis. As a group, analysts forecast that Accelerant Holdings will post 0.68 EPS for the current fiscal year.
Insider Transactions at Accelerant
In other Accelerant news, CFO Jay Michael Green sold 50,000 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $12.77, for a total transaction of $638,500.00. Following the sale, the chief financial officer owned 1,175,589 shares of the company’s stock, valued at $15,012,271.53. The trade was a 4.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 66.59% of the stock is owned by insiders.
Institutional Investors Weigh In On Accelerant
A number of hedge funds and other institutional investors have recently bought and sold shares of ARX. Security Benefit Life Insurance Co. KS bought a new stake in Accelerant during the 3rd quarter valued at $80,797,000. Capital World Investors bought a new stake in Accelerant during the 3rd quarter valued at $85,666,000. Barings LLC purchased a new position in shares of Accelerant during the 3rd quarter valued at $46,370,000. Alliancebernstein L.P. purchased a new position in shares of Accelerant during the 3rd quarter valued at $41,529,000. Finally, Vanguard Group Inc. purchased a new position in shares of Accelerant during the 3rd quarter valued at $33,482,000.
Accelerant Company Profile
Aeroflex Holding Corp. (Aeroflex Holding) is a provider of radio frequency (RF) and microwave integrated circuits, components and systems used in the design, development and maintenance of wireless communication systems. The Company’s solutions include microelectronic components and test and measurement equipment used by companies in the space, avionics and defense; commercial wireless communications, and medical and other markets. Its products include a range of RF, microwave and millimeter wave microelectronic components, integrated circuits (ICs), and analog and mixed-signal devices.