Arxis (NASDAQ:ARXS) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Arxis, Inc. (NASDAQ:ARXS) crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $50.94 and traded as high as $54.50. Arxis shares last traded at $54.37, with a volume of 883,383 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ARXS. Wells Fargo & Company increased their price objective on shares of Arxis from $52.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $60.00 target price on shares of Arxis in a research report on Sunday, August 2nd. Morgan Stanley boosted their target price on Arxis from $62.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Royal Bank Of Canada upped their price target on Arxis from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. Finally, Weiss Ratings upgraded Arxis from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, November 2nd. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.36.

Arxis Trading Up 6.9%

The firm has a market cap of $23.42 billion and a price-to-earnings ratio of 139.41. The firm’s 50-day moving average is $50.94 and its 200-day moving average is $46.49. The company has a current ratio of 4.70, a quick ratio of 3.27 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Stephens Investment Management Group LLC bought a new stake in shares of Arxis during the third quarter worth about $36,109,000. Squarepoint Ops LLC acquired a new position in Arxis during the 2nd quarter valued at about $19,506,000. Voya Investment Management LLC acquired a new position in Arxis during the 3rd quarter valued at about $19,180,000. Alyeska Investment Group L.P. bought a new stake in Arxis during the 2nd quarter worth approximately $13,842,000. Finally, State Street Corp bought a new stake in Arxis during the 2nd quarter worth approximately $9,948,000.

About Arxis

Arxis, Inc. is a manufacturer and supplier of engineered products for the aerospace and defense industries. Its components and systems are designed for use in aircraft and other demanding applications. The company serves customers that require specialized, performance-critical products. Publicly available information about its specific product lines, operating history, geographic reach and leadership is limited.