Squarepoint Ops LLC Makes New Investment in Arxis, Inc. $ARXS

Squarepoint Ops LLC acquired a new stake in Arxis, Inc. (NASDAQ:ARXS) in the second quarter, Holdings Channel reports. The institutional investor acquired 422,759 shares of the company’s stock, valued at approximately $19,506,000.

A number of other large investors also recently added to or reduced their stakes in the business. Amundi purchased a new stake in Arxis during the 2nd quarter valued at about $358,000. Grandeur Peak Global Advisors LLC purchased a new stake in shares of Arxis during the second quarter valued at approximately $2,740,000. IMC Chicago LLC bought a new position in shares of Arxis in the second quarter worth approximately $1,146,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of Arxis in the second quarter worth approximately $13,842,000.

Arxis Price Performance

Shares of Arxis stock opened at $52.43 on Thursday. Arxis, Inc. has a 1 year low of $33.15 and a 1 year high of $61.50. The stock has a 50-day moving average price of $50.06. The company has a market cap of $21.89 billion and a PE ratio of 655.38. The company has a current ratio of 5.21, a quick ratio of 3.79 and a debt-to-equity ratio of 0.38.

Arxis (NASDAQ:ARXS) last posted its 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 during the quarter. Arxis’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, equities analysts expect that Arxis, Inc. will post 0.57 EPS for the current fiscal year.

Analyst Ratings Changes

ARXS has been the subject of a number of analyst reports. Weiss Ratings initiated coverage on shares of Arxis in a report on Monday, August 3rd. They set a “sell (d+)” rating for the company. Morgan Stanley restated an “overweight” rating and set a $62.00 target price on shares of Arxis in a report on Monday, August 3rd. Royal Bank Of Canada increased their price target on shares of Arxis from $46.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. Jefferies Financial Group reissued a “buy” rating and set a $60.00 price target on shares of Arxis in a research report on Sunday, August 2nd. Finally, Citigroup upped their price objective on shares of Arxis from $61.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.73.

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.