Arxis (NASDAQ:ARXS) Insider Sells $1,273,000.00 in Stock

Arxis, Inc. (NASDAQ:ARXS) insider Kevin Scott Perhamus sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $50.92, for a total transaction of $1,273,000.00. Following the transaction, the insider directly owned 3,548,133 shares of the company’s stock, valued at approximately $180,670,932.36. This trade represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Arxis Price Performance

Shares of Arxis stock traded down $0.58 during trading on Thursday, hitting $53.79. 559,492 shares of the company were exchanged, compared to its average volume of 1,022,323. The company has a quick ratio of 3.27, a current ratio of 4.70 and a debt-to-equity ratio of 0.32. Arxis, Inc. has a fifty-two week low of $33.15 and a fifty-two week high of $61.50. The stock has a market capitalization of $23.17 billion and a price-to-earnings ratio of 137.92. The firm has a 50 day moving average price of $50.94 and a 200 day moving average price of $46.49.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ARXS. Royal Bank Of Canada raised their price target on Arxis from $60.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, October 30th. Morgan Stanley upped their price objective on Arxis from $62.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Wells Fargo & Company lifted their price objective on 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 reissued a “buy” rating and issued a $60.00 target price on shares of Arxis in a research note on Sunday, August 2nd. Finally, Weiss Ratings upgraded shares of 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 given a Hold rating to the stock. Based on data from MarketBeat.com, Arxis presently has an average rating of “Moderate Buy” and a consensus price target of $55.36.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. First Trust Advisors LP purchased a new position in shares of Arxis during the 3rd quarter worth $8,371,000. State Street Corp grew its position in shares of Arxis by 566.8% in the third quarter. State Street Corp now owns 1,437,598 shares of the company’s stock valued at $71,003,000 after purchasing an additional 1,221,988 shares during the period. Stephens Investment Management Group LLC acquired a new position in Arxis in the third quarter valued at $36,109,000. Voya Investment Management LLC acquired a new position in Arxis in the third quarter valued at $19,180,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Arxis by 367.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 61,152 shares of the company’s stock valued at $3,020,000 after acquiring an additional 48,082 shares during the last quarter.

Arxis Company Profile

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.