Squarepoint Ops LLC Makes New $19.51 Million Investment in Arxis, Inc. $ARXS

Squarepoint Ops LLC purchased a new position in Arxis, Inc. (NASDAQ:ARXS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 422,759 shares of the company’s stock, valued at approximately $19,506,000. Squarepoint Ops LLC owned 0.10% of Arxis at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amundi bought a new stake in Arxis during the 2nd quarter valued at $358,000. IMC Chicago LLC bought a new position in Arxis in the 2nd quarter valued at about $1,146,000. Grandeur Peak Global Advisors LLC acquired a new position in Arxis during the 2nd quarter valued at about $2,740,000. Finally, Alyeska Investment Group L.P. acquired a new position in Arxis during the 2nd quarter valued at about $13,842,000.

Wall Street Analyst Weigh In

ARXS has been the topic of a number of recent research reports. Jefferies Financial Group restated a “buy” rating and issued a $60.00 target price on shares of Arxis in a report on Sunday, August 2nd. Weiss Ratings started coverage on Arxis in a research report on Monday, August 3rd. They issued a “sell (d+)” rating for the company. Royal Bank Of Canada raised their price objective on Arxis from $46.00 to $50.00 and gave the company a “sector perform” rating in a research note on Friday, July 31st. Morgan Stanley reaffirmed an “overweight” rating and set a $62.00 price objective on shares of Arxis in a report on Monday, August 3rd. Finally, Citigroup upped their target price on shares of Arxis from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Arxis presently has a consensus rating of “Moderate Buy” and an average target price of $53.73.

Arxis Stock Down 1.4%

NASDAQ ARXS opened at $52.43 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.79 and a current ratio of 5.21. The stock has a market capitalization of $21.89 billion and a P/E ratio of 655.38. Arxis, Inc. has a 52 week low of $33.15 and a 52 week high of $61.50. The firm’s 50-day simple moving average is $50.06.

Arxis (NASDAQ:ARXS) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.35. The company had revenue of $500.73 million for the quarter. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Arxis, Inc. will post 0.57 EPS for the current year.

About Arxis

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.