Arxis, Inc. (NASDAQ:ARXS) Sees Large Increase in Short Interest

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Arxis in a report on Monday, May 11th. They issued an “overweight” rating and a $44.00 price target on the stock. Melius Research assumed coverage on shares of Arxis in a report on Monday, May 11th. They issued a “buy” rating and a $45.00 price target on the stock. Wells Fargo & Company started coverage on shares of Arxis in a report on Monday, May 11th. They issued an “overweight” rating and a $42.00 price target on the stock. Citigroup started coverage on shares of Arxis in a research note on Monday, May 11th. They issued a “buy” rating and a $42.00 target price for the company. Finally, The Goldman Sachs Group started coverage on shares of Arxis in a research note on Monday, May 11th. They issued a “buy” rating and a $53.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $45.27.

Arxis Trading Down 4.2%

ARXS stock traded down $1.51 during trading on Friday, reaching $34.59. The company had a trading volume of 832,054 shares, compared to its average volume of 1,355,177. Arxis has a twelve month low of $34.44 and a twelve month high of $39.45.

Insiders Place Their Bets

In other news, Director Stephen Duane Oetgen purchased 25,000 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 $700,000.00. Following the acquisition, the director owned 30,357 shares of the company’s stock, valued at approximately $849,996. This represents a 466.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason Aaron Roth purchased 60,000 shares of the stock in a transaction dated Friday, April 17th. The stock was purchased at an average price of $28.00 per share, for a total transaction of $1,680,000.00. Following the completion of the acquisition, the insider directly owned 395,515 shares in the company, valued at approximately $11,074,420. This represents a 17.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 201,564 shares of company stock worth $5,643,792.

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.