Accelerant (NYSE:ARX) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Accelerant Holdings (NYSE:ARX) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.84 and traded as high as $15.00. Accelerant shares last traded at $14.3650, with a volume of 1,075,847 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ARX. Raymond James Financial boosted their target price on shares of Accelerant from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Piper Sandler boosted their target price on shares of Accelerant from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Weiss Ratings lowered shares of Accelerant from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 27th. TD Cowen dropped their target price on shares of Accelerant from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Finally, Citizens Jmp dropped their target price on shares of Accelerant from $20.00 to $17.00 and set a “market outperform” rating on the stock in a research report on Monday, April 13th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.45.

Accelerant Trading Up 0.3%

The business’s fifty day simple moving average is $14.40 and its 200 day simple moving average is $13.85. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. The stock has a market cap of $3.07 billion and a P/E ratio of -2.02.

Accelerant (NYSE:ARX) last issued its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The firm had revenue of $273.20 million for the quarter. Accelerant’s quarterly revenue was up 53.5% on a year-over-year basis. As a group, analysts expect that Accelerant Holdings will post 0.73 EPS for the current year.

Insider Activity

In other news, CFO Jay Michael Green sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $12.77, for a total value of $638,500.00. Following the transaction, the chief financial officer owned 1,175,589 shares of the company’s stock, valued at approximately $15,012,271.53. This trade represents a 4.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 66.59% of the company’s stock.

Institutional Trading of Accelerant

Hedge funds have recently modified their holdings of the company. State of Wyoming bought a new stake in shares of Accelerant during the first quarter worth $28,000. Quarry LP bought a new position in Accelerant in the third quarter valued at approximately $40,000. PNC Financial Services Group Inc. bought a new position in Accelerant in the third quarter valued at approximately $42,000. CWM LLC bought a new position in Accelerant in the fourth quarter valued at approximately $109,000. Finally, Royal Bank of Canada grew its stake in Accelerant by 50.3% in the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock valued at $103,000 after purchasing an additional 2,585 shares in the last quarter.

Accelerant Company Profile

Aeroflex Holding Corp. (Aeroflex Holding) is a provider of radio frequency (RF) and microwave integrated circuits, components and systems used in the design, development and maintenance of wireless communication systems. The Company’s solutions include microelectronic components and test and measurement equipment used by companies in the space, avionics and defense; commercial wireless communications, and medical and other markets. Its products include a range of RF, microwave and millimeter wave microelectronic components, integrated circuits (ICs), and analog and mixed-signal devices.