Arxis (NASDAQ:ARXS) Share Price Breaks Above 50 Day Moving Average – Here’s Why

Arxis, Inc. (NASDAQ:ARXS) shares passed above its 50 day moving average during trading on Wednesday. The stock has a 50 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 trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Arxis from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, November 2nd. Morgan Stanley upped their target price on shares of Arxis from $62.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Wells Fargo & Company increased their price target on shares of Arxis from $52.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Royal Bank Of Canada raised their price target on shares of Arxis from $60.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, October 30th. Finally, Citigroup boosted their price objective on shares of Arxis from $61.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.36.

Arxis Trading Down 0.9%

The company has a fifty day moving average price of $50.99 and a two-hundred day moving average price of $46.59. The company has a current ratio of 4.70, a quick ratio of 3.27 and a debt-to-equity ratio of 0.32.

Insider Buying and Selling at Arxis

In other Arxis news, insider Ross Sealfon sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $52.23, for a total value of $783,450.00. Following the sale, the insider owned 1,087,807 shares of the company’s stock, valued at $56,816,159.61. The trade was a 1.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kevin Perhamus sold 25,000 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $50.92, for a total transaction of $1,273,000.00. Following the completion of the transaction, the insider owned 3,548,133 shares of the company’s stock, valued at approximately $180,670,932.36. This represents a 0.70% decrease in their position. The SEC filing for this sale provides additional information.

Institutional Trading of Arxis

Institutional investors have recently made changes to their positions in the business. State Street Corp grew its stake in shares of Arxis by 566.8% in the 3rd 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 bought a new position in shares of Arxis during the 3rd quarter worth approximately $36,109,000. Squarepoint Ops LLC bought a new position in shares of Arxis during the 2nd quarter worth approximately $19,506,000. Voya Investment Management LLC acquired a new stake in Arxis in the 3rd quarter valued at $19,180,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Arxis in the 2nd quarter valued at $13,842,000.

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.