Arxis, Inc. (NASDAQ:ARXS) Short Interest Up 151.1% in June

Arxis, Inc. (NASDAQ:ARXS) saw a significant growth in short interest in June. As of June 30th, there was short interest totaling 4,919,028 shares, a growth of 151.1% from the June 15th total of 1,958,941 shares. Based on an average trading volume of 1,751,328 shares, the short-interest ratio is presently 2.8 days. Approximately 1.2% of the shares of the stock are short sold.

Arxis Price Performance

ARXS opened at $41.50 on Thursday. Arxis has a one year low of $33.15 and a one year high of $48.68. The firm’s 50 day simple moving average is $40.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ARXS shares. William Blair began coverage on shares of Arxis in a research note on Monday, May 11th. They issued an “outperform” rating for the company. The Goldman Sachs Group started coverage on shares of Arxis in a research report on Monday, May 11th. They set a “buy” rating and a $53.00 price target for the company. Wells Fargo & Company lifted their price objective on Arxis from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Rothschild & Co Redburn initiated coverage on Arxis in a research report on Monday, May 11th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Melius Research started coverage on Arxis in a research note on Monday, May 11th. They set a “buy” rating and a $45.00 price objective for the company. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.64.

Insiders Place Their Bets

In other news, insider Kevin Scott Perhamus purchased 53,600 shares of the stock in a transaction on Friday, April 17th. The shares were acquired at an average price of $28.00 per share, for a total transaction of $1,500,800.00. Following the completion of the transaction, the insider directly owned 3,573,133 shares of the company’s stock, valued at approximately $100,047,724. This trade represents a 1.52% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Jason Aaron Roth purchased 60,000 shares of the company’s stock in a transaction on Friday, April 17th. The shares were purchased at an average cost of $28.00 per share, with a total value of $1,680,000.00. Following the purchase, the insider owned 395,515 shares of the company’s stock, valued at approximately $11,074,420. The trade was a 17.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 201,564 shares of company stock valued at $5,643,792 over the last quarter.

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.