Arxis (NASDAQ:ARXS) Reaches New 1-Year High – What’s Next?

Arxis, Inc. (NASDAQ:ARXS)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $40.14 and last traded at $39.53, with a volume of 2009724 shares traded. The stock had previously closed at $34.80.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ARXS. Wall Street Zen upgraded Arxis to a “hold” rating in a report on Saturday, May 2nd. Melius Research started coverage on Arxis in a report on Monday, May 11th. They set a “buy” rating and a $45.00 price target on the stock. William Blair started coverage on Arxis in a report on Monday, May 11th. They issued an “outperform” rating on the stock. The Goldman Sachs Group started coverage on Arxis in a report on Monday, May 11th. They issued a “buy” rating and a $53.00 price target on the stock. Finally, Zacks Research upgraded Arxis to a “hold” rating in a report on Tuesday, May 12th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.27.

Arxis Trading Up 17.8%

Arxis (NASDAQ:ARXS) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $999.00 earnings per share (EPS) for the quarter.

Insiders Place Their Bets

In related news, Director Stephen Duane Oetgen purchased 25,000 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was acquired at an average cost of $28.00 per share, with a total value of $700,000.00. Following the transaction, the director owned 30,357 shares of the company’s stock, valued at $849,996. This represents a 466.68% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Azad Sid Badakhsh purchased 36,000 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was bought at an average cost of $28.00 per share, with a total value of $1,008,000.00. Following the completion of the transaction, the insider directly owned 403,864 shares in the company, valued at $11,308,192. The trade was a 9.79% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have 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.