Arxis, Inc. (NASDAQ:ARXS) Short Interest Update

Arxis, Inc. (NASDAQ:ARXS) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 4,919,028 shares, an increase of 151.1% from the June 15th total of 1,958,941 shares. Currently, 1.2% of the company’s shares are short sold. Based on an average daily trading volume, of 1,751,328 shares, the short-interest ratio is currently 2.8 days.

Insider Buying and Selling

In related news, Director Stephen Duane Oetgen bought 25,000 shares of the stock in a transaction on Friday, April 17th. The stock was bought at an average price of $28.00 per share, with a total value of $700,000.00. Following the completion of the purchase, the director directly owned 30,357 shares in the company, valued at $849,996. This represents a 466.68% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Azad Sid Badakhsh purchased 36,000 shares of the company’s stock in a transaction on Friday, April 17th. The shares were bought 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 owned 403,864 shares of the company’s stock, valued at approximately $11,308,192. The trade was a 9.79% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 201,564 shares of company stock valued at $5,643,792 over the last three months.

Analysts Set New Price Targets

A number of analysts have issued reports on ARXS shares. The Goldman Sachs Group began coverage on Arxis in a research report on Monday, May 11th. They issued a “buy” rating and a $53.00 target price on the stock. Robert W. Baird initiated coverage on Arxis in a research report on Monday, May 11th. They set an “outperform” rating and a $55.00 price target for the company. Wolfe Research started coverage on Arxis in a research note on Monday, May 11th. They set an “outperform” rating and a $43.00 target price on the stock. Wall Street Zen upgraded Arxis to a “hold” rating in a report on Saturday, May 2nd. Finally, UBS Group set a $53.00 target price on Arxis in a research report on Monday, May 11th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.64.

Arxis Stock Performance

ARXS stock opened at $42.35 on Tuesday. The stock’s 50 day moving average price is $40.65. Arxis has a fifty-two week low of $33.15 and a fifty-two week high of $48.68.

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.