Arxis, Inc. (NASDAQ:ARXS) Short Interest Update

Key Points

• Short interest in Arxis surged in June, rising 151.1% to 4.92 million shares as of June 30. That represents about 1.2% of shares outstanding and a short-interest ratio of 2.8 days.
• Insiders were buying shares, including Director Stephen Duane Oetgen and insider Azad Sid Badakhsh, who made significant purchases at $28 per share. Insider buying over the past three months totaled 201,564 shares worth about $5.64 million.
• Analyst sentiment remains constructive, with 10 Buy ratings and 2 Hold ratings and an average price target of $49.64. The stock opened at $42.35, below the consensus target but above its 50-day average of $40.65.

Arxis, Inc. (NASDAQ:ARXS - Get Free Report) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 4,919,028 shares, an increase of 151.1% from the June 15th total of 1,958,941 shares. Currently, 1.2% of the company's shares are short sold. Based on an average daily trading volume, of 1,751,328 shares, the short-interest ratio is currently 2.8 days.

Insider Buying and Selling

In related news, Director Stephen Duane Oetgen bought 25,000 shares of the stock in a transaction on Friday, April 17th. The stock was bought at an average price of $28.00 per share, with a total value of $700,000.00. Following the completion of the purchase, the director directly owned 30,357 shares in the company, valued at $849,996. This represents a 466.68% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Azad Sid Badakhsh purchased 36,000 shares of the company's stock in a transaction on Friday, April 17th. The shares were bought at an average price of $28.00 per share, with a total value of $1,008,000.00. Following the completion of the transaction, the insider owned 403,864 shares of the company's stock, valued at approximately $11,308,192. The trade was a 9.79% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 201,564 shares of company stock valued at $5,643,792 over the last three months.

Analysts Set New Price Targets

A number of analysts have issued reports on ARXS shares. The Goldman Sachs Group began coverage on Arxis in a research report on Monday, May 11th. They issued a "buy" rating and a $53.00 target price on the stock. Robert W. Baird initiated coverage on Arxis in a research report on Monday, May 11th. They set an "outperform" rating and a $55.00 price target for the company. Wolfe Research started coverage on Arxis in a research note on Monday, May 11th. They set an "outperform" rating and a $43.00 target price on the stock. Wall Street Zen upgraded Arxis to a "hold" rating in a report on Saturday, May 2nd. Finally, UBS Group set a $53.00 target price on Arxis in a research report on Monday, May 11th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $49.64.

Arxis Stock Performance

ARXS stock opened at $42.35 on Tuesday. The stock's 50 day moving average price is $40.65. Arxis has a fifty-two week low of $33.15 and a fifty-two week high of $48.68.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.