Short Interest in Arxis, Inc. (NASDAQ:ARXS) Expands By ∞

Arxis, Inc. (NASDAQ:ARXS) was the recipient of a large increase in short interest during the month of April. As of April 30th, there was short interest totaling 1,600,490 shares, an increase of ∞ from the April 15th total of 0 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average trading volume of 3,447,228 shares, the short-interest ratio is currently 0.5 days.

Insider Activity

In other news, insider Kevin Scott Perhamus acquired 53,600 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was bought at an average price 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 in the company, valued at approximately $100,047,724. This represents a 1.52% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ross Bradley Sealfon acquired 12,500 shares of the company’s 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 $350,000.00. Following the acquisition, the insider owned 1,102,807 shares of the company’s stock, valued at approximately $30,878,596. This represents a 1.15% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 201,564 shares of company stock worth $5,643,792.

Arxis Stock Performance

Shares of NASDAQ:ARXS traded down $0.31 on Monday, reaching $34.28. 95,305 shares of the company’s stock were exchanged, compared to its average volume of 1,297,161. Arxis has a twelve month low of $34.16 and a twelve month high of $39.45.

Analysts Set New Price Targets

ARXS has been the topic of a number of recent research reports. Zacks Research raised shares of Arxis to a “hold” rating in a research note on Tuesday, May 12th. Wells Fargo & Company began coverage on shares of Arxis in a research report on Monday, May 11th. They set an “overweight” rating and a $42.00 price target on the stock. Rothschild & Co Redburn initiated coverage on shares of Arxis in a research report on Monday, May 11th. They set a “buy” rating and a $40.00 price target on the stock. Wall Street Zen raised shares of Arxis to a “hold” rating in a research report on Saturday, May 2nd. Finally, UBS Group set a $53.00 price objective on shares of Arxis in a research report on Monday, May 11th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $45.27.

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.