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

Key Points

• Short interest fell 40.6% to 2.92 million shares as of July 15, representing about 0.7% of Arxis’ outstanding shares and 3.4 days to cover.
• Arxis shares rose to $48.17, near their 52-week high of $48.68. The company reported quarterly EPS of $0.28, beating estimates by $0.35, while revenue increased 25% year over year to $500.73 million.
• Analysts maintain a favorable outlook, with ten Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and an average price target of $49.64.

Arxis, Inc. (NASDAQ:ARXS - Get Free Report) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totaling 2,922,498 shares, a drop of 40.6% from the June 30th total of 4,919,028 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 864,472 shares, the days-to-cover ratio is presently 3.4 days.

Arxis Price Performance

Shares of Arxis stock traded up $5.70 on Thursday, hitting $48.17. 270,960 shares of the company were exchanged, compared to its average volume of 1,123,730. The stock's 50-day moving average is $42.36. Arxis has a 1-year low of $33.15 and a 1-year high of $48.68.

Arxis (NASDAQ:ARXS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.35. The company had revenue of $500.73 million during the quarter. The firm's revenue was up 25.0% on a year-over-year basis.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Rothschild & Co Redburn started coverage on Arxis in a research note on Monday, May 11th. They set a "buy" rating and a $40.00 price objective for the company. Zacks Research upgraded Arxis to a "hold" rating in a research report on Tuesday, May 12th. Robert W. Baird initiated coverage on Arxis in a research note on Monday, May 11th. They issued an "outperform" rating and a $55.00 price objective for the company. UBS Group set a $53.00 target price on shares of Arxis in a research note on Monday, May 11th. Finally, Wells Fargo & Company upped their target price on shares of Arxis from $42.00 to $52.00 and gave the stock an "overweight" rating in a report on Monday, June 1st. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Arxis has a consensus rating of "Moderate Buy" and a consensus price target of $49.64.

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.

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