Arxis (NASDAQ:ARXS) Stock Price Up 12.3% – Time to Buy?

Shares of Arxis, Inc. (NASDAQ:ARXS) shot up 12.3% during mid-day trading on Tuesday . The company traded as high as $39.21 and last traded at $39.08. 905,168 shares changed hands during trading, a decline of 23% from the average session volume of 1,170,009 shares. The stock had previously closed at $34.80.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ARXS. Zacks Research upgraded shares of Arxis to a “hold” rating in a report on Tuesday, May 12th. Wolfe Research began coverage on shares of Arxis in a report on Monday, May 11th. They set an “outperform” rating and a $43.00 price target for the company. Royal Bank Of Canada began coverage on shares of Arxis in a report on Monday, May 11th. They set a “sector perform” rating and a $39.00 price target for the company. William Blair began coverage on shares of Arxis in a report on Monday, May 11th. They set an “outperform” rating for the company. Finally, Jefferies Financial Group began coverage on shares of Arxis in a research note on Monday, May 11th. They issued a “buy” rating and a $42.00 target price for the company. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.27.

Arxis Price Performance

Insiders Place Their Bets

In other Arxis news, Director Stephen Duane Oetgen purchased 25,000 shares of the business’s stock in a transaction on Friday, April 17th. The stock was purchased at an average price of $28.00 per share, for a total transaction of $700,000.00. Following the completion of the purchase, the director directly owned 30,357 shares in the company, valued at approximately $849,996. This trade represents a 466.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ross Bradley Sealfon purchased 12,500 shares of the business’s stock in a transaction on Friday, April 17th. The shares were acquired at an average price of $28.00 per share, with a total value of $350,000.00. Following the purchase, the insider owned 1,102,807 shares of the company’s stock, valued at approximately $30,878,596. This trade represents a 1.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 201,564 shares of company stock valued at $5,643,792 in the last quarter.

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.