Arxis (NASDAQ:ARXS) Stock: Insider Ross Bradley Sealfon Sells 15,000 Shares

Arxis, Inc. (NASDAQ:ARXS) insider Ross Sealfon sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $52.23, for a total value of $783,450.00. Following the completion of the sale, the insider directly owned 1,087,807 shares of the company’s stock, valued at approximately $56,816,159.61. The trade was a 1.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Arxis Stock Down 0.9%

Shares of NASDAQ:ARXS traded down $0.50 during midday trading on Friday, hitting $53.29. The stock had a trading volume of 682,613 shares, compared to its average volume of 866,705. The company has a market cap of $22.95 billion and a P/E ratio of 136.64. Arxis, Inc. has a 12 month low of $33.15 and a 12 month high of $61.50. The business’s 50-day simple moving average is $50.99 and its 200-day simple moving average is $46.59. The company has a quick ratio of 3.27, a current ratio of 4.70 and a debt-to-equity ratio of 0.32.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley lifted their price objective on shares of Arxis from $62.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $60.00 target price on shares of Arxis in a report on Sunday, August 2nd. Weiss Ratings upgraded shares of Arxis from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, November 2nd. Wells Fargo & Company lifted their price target on Arxis from $52.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Finally, Citigroup boosted their price target on Arxis from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Arxis presently has an average rating of “Moderate Buy” and a consensus price target of $55.36.

Hedge Funds Weigh In On Arxis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in shares of Arxis by 566.8% in the third quarter. State Street Corp now owns 1,437,598 shares of the company’s stock valued at $71,003,000 after purchasing an additional 1,221,988 shares during the period. Stephens Investment Management Group LLC acquired a new position in Arxis in the 3rd quarter valued at about $36,109,000. Squarepoint Ops LLC bought a new position in Arxis in the 2nd quarter valued at about $19,506,000. Voya Investment Management LLC bought a new position in Arxis in the 3rd quarter valued at about $19,180,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Arxis during the second quarter worth approximately $13,842,000.

Arxis Company Profile

Arxis, Inc. is a manufacturer and supplier of engineered products for the aerospace and defense industries. Its components and systems are designed for use in aircraft and other demanding applications. The company serves customers that require specialized, performance-critical products. Publicly available information about its specific product lines, operating history, geographic reach and leadership is limited.