Arxis (NASDAQ:ARXS) Shares Gap Down – Time to Sell?

Arxis, Inc. (NASDAQ:ARXS) shares gapped down before the market opened on Thursday. The stock had previously closed at $54.13, but opened at $47.94. Arxis shares last traded at $50.08, with a volume of 261,331 shares.

Wall Street Analyst Weigh In

Several research firms have weighed in on ARXS. Citigroup lifted their price target on shares of Arxis from $61.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Weiss Ratings upgraded Arxis from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Royal Bank Of Canada raised shares of Arxis from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $50.00 to $60.00 in a research report on Friday, October 2nd. Morgan Stanley restated an “overweight” rating and set a $62.00 price target on shares of Arxis in a research note on Monday, August 3rd. Finally, Jefferies Financial Group restated a “buy” rating and set a $60.00 price objective on shares of Arxis in a report on Sunday, August 2nd. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.64.

Arxis Trading Up 0.6%

The company has a market capitalization of $22.74 billion and a PE ratio of 680.88. The business has a fifty day moving average of $51.33. The company has a quick ratio of 3.79, a current ratio of 5.21 and a debt-to-equity ratio of 0.38.

Arxis (NASDAQ:ARXS) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.35. The company had revenue of $500.73 million for the quarter. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, research analysts forecast that Arxis, Inc. will post 0.57 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Arxis by 22.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,133 shares of the company’s stock worth $945,000 after purchasing an additional 3,521 shares during the last quarter. Inspire Investing LLC bought a new stake in Arxis in the 3rd quarter worth about $1,125,000. State of Alaska Department of Revenue purchased a new stake in Arxis in the 3rd quarter valued at about $157,000. Moody National Bank Trust Division purchased a new stake in Arxis in the 3rd quarter valued at about $1,113,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Arxis during the 2nd quarter worth approximately $1,206,000.

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.