Arxis (NASDAQ:ARXS) Hits New 52-Week High – Should You Buy?

Arxis, Inc. (NASDAQ:ARXS) shares reached a new 52-week high on Wednesday . The stock 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.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ARXS shares. Wells Fargo & Company started coverage on shares of Arxis in a research note on Monday, May 11th. They issued an “overweight” rating and a $42.00 target price for the company. Zacks Research upgraded shares of Arxis to a “hold” rating in a research note on Tuesday, May 12th. Jefferies Financial Group started 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. Rothschild & Co Redburn started coverage on shares of Arxis in a research note on Monday, May 11th. They issued a “buy” rating and a $40.00 target price for the company. Finally, Royal Bank Of Canada began coverage on shares of Arxis in a research note on Monday, May 11th. They issued a “sector perform” rating and a $39.00 target price for the company. Ten 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, Arxis has a consensus rating of “Moderate Buy” and a consensus target price of $45.27.

Arxis Price Performance

Insider Buying and Selling

In other news, insider Kevin Scott Perhamus acquired 53,600 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was bought at an average cost of $28.00 per share, for a total transaction of $1,500,800.00. Following the completion of the transaction, the insider owned 3,573,133 shares of the company’s stock, valued at $100,047,724. The trade was a 1.52% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Azad Sid Badakhsh acquired 36,000 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was purchased at an average price 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 of the company’s stock, valued at $11,308,192. This trade represents a 9.79% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 201,564 shares of company stock valued at $5,643,792 in the last three months.

About Arxis

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.