Arxis, Inc. (NASDAQ:ARXS) Sees Significant Decrease in Short Interest

Arxis, Inc. (NASDAQ:ARXS) saw a significant decline in short interest during the month of July. As of July 15th, there was short interest totaling 2,922,498 shares, a decline of 40.6% from the June 30th total of 4,919,028 shares. Based on an average daily trading volume, of 864,472 shares, the short-interest ratio is presently 3.4 days. Approximately 0.7% of the company’s stock are short sold.

Analyst Ratings Changes

A number of brokerages have recently commented on ARXS. Wells Fargo & Company increased their price objective on Arxis from $42.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, June 1st. Robert W. Baird initiated coverage on Arxis in a report on Monday, May 11th. They set an “outperform” rating and a $55.00 price target on the stock. Rothschild & Co Redburn assumed coverage on shares of Arxis in a research report on Monday, May 11th. They issued a “buy” rating and a $40.00 price target on the stock. Zacks Research raised shares of Arxis to a “hold” rating in a research report on Tuesday, May 12th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $55.00 price objective on shares of Arxis in a research note on Sunday, May 31st. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Arxis has a consensus rating of “Moderate Buy” and a consensus price target of $50.64.

Arxis Trading Up 10.9%

ARXS opened at $54.30 on Friday. The firm has a 50 day simple moving average of $43.04. Arxis has a 12-month low of $33.15 and a 12-month high of $55.24.

Arxis (NASDAQ:ARXS) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.35. The business had revenue of $500.73 million for the quarter. Arxis’s revenue for the quarter was up 25.0% compared to the same quarter last year.

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.