Arxis, Inc. (NASDAQ:ARXS) Short Interest Down 40.6% in July

Arxis, Inc. (NASDAQ:ARXS) was the recipient of a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 2,922,498 shares, a decline of 40.6% from the June 30th total of 4,919,028 shares. Based on an average trading volume of 864,472 shares, the short-interest ratio is presently 3.4 days. Currently, 0.7% of the company’s shares are sold short.

Analysts Set New Price Targets

ARXS has been the topic of several analyst reports. Zacks Research upgraded shares of Arxis to a “hold” rating in a report on Tuesday, May 12th. Wolfe Research initiated coverage on Arxis in a research note on Monday, May 11th. They set an “outperform” rating and a $43.00 target price for the company. Wall Street Zen upgraded shares of Arxis to a “hold” rating in a report on Saturday, May 2nd. The Goldman Sachs Group assumed coverage on shares of Arxis in a research report on Monday, May 11th. They issued a “buy” rating and a $53.00 price objective on the stock. Finally, Citigroup restated a “buy” rating on shares of Arxis in a report on Friday. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.64.

Arxis Stock Up 5.8%

ARXS traded up $2.84 during trading on Friday, reaching $51.82. The stock had a trading volume of 264,596 shares, compared to its average volume of 1,137,261. Arxis has a one year low of $33.15 and a one year high of $52.54. The firm’s 50-day moving average is $42.65.

Arxis (NASDAQ:ARXS) last posted its earnings results on Wednesday, July 29th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.35. The business had revenue of $500.73 million during the quarter. The company’s revenue was up 25.0% compared to the same quarter last year.

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.