Arxis (NASDAQ:ARXS) Insider Kevin Scott Perhamus Sells 25,000 Shares of Stock

Arxis, Inc. (NASDAQ:ARXS) insider Kevin Perhamus sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $50.92, for a total value of $1,273,000.00. Following the completion of the transaction, the insider owned 3,548,133 shares in the company, valued at $180,670,932.36. The trade was a 0.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Arxis Price Performance

ARXS stock opened at $53.79 on Friday. The company has a quick ratio of 3.27, a current ratio of 4.70 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average of $50.99 and a 200-day moving average of $46.54. Arxis, Inc. has a 12-month low of $33.15 and a 12-month high of $61.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp increased its stake in shares of Arxis by 566.8% during the 3rd quarter. State Street Corp now owns 1,437,598 shares of the company’s stock worth $71,003,000 after purchasing an additional 1,221,988 shares during the last quarter. Stephens Investment Management Group LLC bought a new stake in shares of Arxis in the 3rd quarter worth approximately $36,109,000. Squarepoint Ops LLC purchased a new position in Arxis in the second quarter valued at approximately $19,506,000. Voya Investment Management LLC purchased a new position in Arxis in the third quarter valued at approximately $19,180,000. Finally, Alyeska Investment Group L.P. purchased a new position in Arxis in the second quarter valued at approximately $13,842,000.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Arxis from $52.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada upped their price objective on Arxis from $60.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a $60.00 target price on shares of Arxis in a research report on Sunday, August 2nd. Citigroup lifted their target price on Arxis from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings raised shares of Arxis from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, November 2nd. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.36.

About Arxis

Arxis, Inc. is a manufacturer and supplier of engineered products for the aerospace and defense industries. Its components and systems are designed for use in aircraft and other demanding applications. The company serves customers that require specialized, performance-critical products. Publicly available information about its specific product lines, operating history, geographic reach and leadership is limited.