Accelerant (NYSE:ARX) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Accelerant Holdings (NYSE:ARX) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $13.40 and traded as high as $13.65. Accelerant shares last traded at $13.0920, with a volume of 871,716 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ARX. Morgan Stanley cut their target price on shares of Accelerant from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Monday, April 6th. The Goldman Sachs Group restated a “buy” rating and issued a $20.00 price objective on shares of Accelerant in a report on Wednesday, January 7th. Weiss Ratings upgraded Accelerant from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, April 24th. Raymond James Financial restated an “outperform” rating and issued a $13.00 price objective on shares of Accelerant in a report on Tuesday, February 17th. Finally, Citizens Jmp decreased their price target on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Monday, April 13th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Accelerant currently has an average rating of “Moderate Buy” and an average price target of $18.17.

Accelerant Trading Up 0.6%

The company’s 50 day moving average price is $12.43 and its two-hundred day moving average price is $13.40. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market capitalization of $2.91 billion and a PE ratio of -1.89.

Accelerant (NYSE:ARX) last posted its quarterly earnings results on Wednesday, March 18th. The technology company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. The firm had revenue of $248.40 million for the quarter. Accelerant had a negative net margin of 148.33% and a positive return on equity of 67.99%. Accelerant’s quarterly revenue was up 30.3% compared to the same quarter last year. As a group, analysts expect that Accelerant Holdings will post 0.68 earnings per share for the current year.

Insider Buying and Selling

In other Accelerant news, CFO Jay Michael Green sold 50,000 shares of Accelerant stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $12.77, for a total transaction of $638,500.00. Following the transaction, the chief financial officer directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 66.59% of the stock is owned by company insiders.

Hedge Funds Weigh In On Accelerant

A number of institutional investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL purchased a new stake in shares of Accelerant in the 3rd quarter valued at approximately $1,075,000. Yorktown Management & Research Co Inc purchased a new stake in shares of Accelerant in the 4th quarter valued at approximately $970,000. Ghisallo Capital Management LLC purchased a new stake in shares of Accelerant in the 3rd quarter valued at approximately $6,328,000. Capital World Investors purchased a new stake in shares of Accelerant in the 3rd quarter valued at approximately $85,666,000. Finally, Picton Mahoney Asset Management purchased a new stake in shares of Accelerant in the 3rd quarter valued at approximately $780,000.

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.