Arxis (NASDAQ:ARXS) Announces Earnings Results

Arxis (NASDAQ:ARXS) posted its quarterly earnings results on Wednesday. The company reported $999.00 EPS for the quarter, Zacks reports.

Arxis Stock Up 0.6%

Shares of ARXS stock traded up $0.22 during trading hours on Wednesday, hitting $39.75. The stock had a trading volume of 1,424,510 shares, compared to its average volume of 1,218,994. Arxis has a one year low of $33.15 and a one year high of $40.66.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Melius Research assumed coverage on Arxis in a report on Monday, May 11th. They set a “buy” rating and a $45.00 price target on the stock. Robert W. Baird assumed coverage on Arxis in a report on Monday, May 11th. They set an “outperform” rating and a $55.00 price target on the stock. Wolfe Research assumed coverage on Arxis in a report on Monday, May 11th. They set an “outperform” rating and a $43.00 price target on the stock. Wall Street Zen raised Arxis to a “hold” rating in a report on Saturday, May 2nd. Finally, William Blair assumed coverage on Arxis in a report on Monday, May 11th. They set an “outperform” rating on the stock. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Arxis presently has an average rating of “Moderate Buy” and an average target price of $45.27.

Insider Transactions at Arxis

In other news, insider Kevin Scott Perhamus bought 53,600 shares of Arxis stock in a transaction dated Friday, April 17th. The shares were purchased at an average cost of $28.00 per share, with a total value of $1,500,800.00. Following the completion of the acquisition, the insider owned 3,573,133 shares of the company’s stock, valued at $100,047,724. This trade represents a 1.52% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Aaron Roth bought 60,000 shares of Arxis stock in a transaction dated Friday, April 17th. The stock was purchased at an average cost of $28.00 per share, for a total transaction of $1,680,000.00. Following the completion of the acquisition, the insider directly owned 395,515 shares of the company’s stock, valued at approximately $11,074,420. The trade was a 17.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 201,564 shares of company stock valued at $5,643,792.

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.