Accelerant (NYSE:ARX) Trading 6.1% Higher - What's Next?

Key Points

• Accelerant shares rose 6.1% in midday trading, reaching as high as $13.39, though volume was well below average at 517,970 shares.
• Wall Street sentiment remains constructive: analysts have a Moderate Buy consensus on the stock, with an average price target of $18.60 after several firms recently adjusted their targets higher or lower.
• The company posted better-than-expected quarterly earnings, reporting EPS of $0.17 versus estimates of $0.16 and revenue up 53.5% year over year to $273.2 million, even as insiders recently sold shares under pre-arranged trading plans.

Accelerant Holdings (NYSE:ARX - Get Free Report) was up 6.1% during mid-day trading on Monday . The stock traded as high as $13.39 and last traded at $13.4150. 517,970 shares changed hands during trading, a decline of 64% from the average session volume of 1,427,982 shares. The stock had previously closed at $12.64.

Analysts Set New Price Targets

Several research analysts have recently commented on ARX shares. Piper Sandler boosted their price target on Accelerant from $18.00 to $19.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. BMO Capital Markets lifted their target price on Accelerant from $16.50 to $17.00 and gave the company an "outperform" rating in a research note on Tuesday, June 16th. Citizens Jmp lowered their price target on shares of Accelerant from $20.00 to $17.00 and set a "market outperform" rating on the stock in a report on Monday, April 13th. TD Cowen dropped their target price on Accelerant from $36.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, March 26th. Finally, UBS Group set a $16.00 price target on shares of Accelerant in a research note on Thursday, May 21st. 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 company's stock. According to MarketBeat.com, Accelerant presently has a consensus rating of "Moderate Buy" and an average target price of $18.60.

Accelerant Trading Up 6.6%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61. The company has a market cap of $2.94 billion and a price-to-earnings ratio of -1.93. The company's fifty day moving average is $14.15 and its two-hundred day moving average is $13.57.

Accelerant (NYSE:ARX - Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. The firm had revenue of $273.20 million for the quarter. Accelerant had a negative net margin of 135.47% and a positive return on equity of 49.99%. The company's quarterly revenue was up 53.5% compared to the same quarter last year. On average, research analysts anticipate that Accelerant Holdings will post 0.73 EPS for the current year.

Insider Buying and Selling at Accelerant

In other Accelerant news, Director Nancy Hasley sold 35,000 shares of Accelerant stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $13.11, for a total transaction of $458,850.00. Following the completion of the transaction, the director owned 1,362,323 shares in the company, valued at approximately $17,860,054.53. This trade represents a 2.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeffrey L. Radke sold 80,000 shares of the business's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.33, for a total value of $1,066,400.00. Following the completion of the transaction, the chief executive officer directly owned 28,021,939 shares of the company's stock, valued at approximately $373,532,446.87. This trade represents a 0.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 495,500 shares of company stock worth $6,497,784. Insiders own 66.59% of the company's stock.

Institutional Investors Weigh In On Accelerant

Several hedge funds have recently bought and sold shares of the stock. State of Wyoming acquired a new stake in shares of Accelerant during the 1st quarter worth approximately $28,000. Quarry LP acquired a new position in shares of Accelerant in the 3rd quarter valued at $40,000. PNC Financial Services Group Inc. purchased a new stake in Accelerant during the third quarter worth $42,000. Royal Bank of Canada boosted its holdings in Accelerant by 50.3% during the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company's stock worth $103,000 after buying an additional 2,585 shares in the last quarter. Finally, CWM LLC acquired a new stake in Accelerant during the fourth quarter valued at $109,000.

About Accelerant

Aeroflex Holding Corp. (Aeroflex Holding) is a provider of radio frequency (RF) and microwave integrated circuits, components and systems used in the design, development and maintenance of wireless communication systems. The Company's solutions include microelectronic components and test and measurement equipment used by companies in the space, avionics and defense; commercial wireless communications, and medical and other markets. Its products include a range of RF, microwave and millimeter wave microelectronic components, integrated circuits (ICs), and analog and mixed-signal devices.

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