Squarepoint Ops LLC Makes New $19.51 Million Investment in Arxis, Inc. $ARXS

Squarepoint Ops LLC purchased a new position in Arxis, Inc. (NASDAQ:ARXS - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 422,759 shares of the company's stock, valued at approximately $19,506,000. Squarepoint Ops LLC owned 0.10% of Arxis at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Amundi bought a new stake in Arxis during the 2nd quarter valued at $358,000. IMC Chicago LLC bought a new position in Arxis in the 2nd quarter valued at about $1,146,000. Grandeur Peak Global Advisors LLC acquired a new position in Arxis during the 2nd quarter valued at about $2,740,000. Finally, Alyeska Investment Group L.P. acquired a new position in Arxis during the 2nd quarter valued at about $13,842,000.

Wall Street Analyst Weigh In

ARXS has been the topic of a number of recent research reports. Jefferies Financial Group restated a "buy" rating and issued a $60.00 target price on shares of Arxis in a report on Sunday, August 2nd. Weiss Ratings started coverage on Arxis in a research report on Monday, August 3rd. They issued a "sell (d+)" rating for the company. Royal Bank Of Canada raised their price objective on Arxis from $46.00 to $50.00 and gave the company a "sector perform" rating in a research note on Friday, July 31st. Morgan Stanley reaffirmed an "overweight" rating and set a $62.00 price objective on shares of Arxis in a report on Monday, August 3rd. Finally, Citigroup upped their target price on shares of Arxis from $61.00 to $67.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Arxis presently has a consensus rating of "Moderate Buy" and an average target price of $53.73.

Arxis Stock Down 1.4%

NASDAQ ARXS opened at $52.43 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.79 and a current ratio of 5.21. The stock has a market capitalization of $21.89 billion and a P/E ratio of 655.38. Arxis, Inc. has a 52 week low of $33.15 and a 52 week high of $61.50. The firm's 50-day simple moving average is $50.06.

Arxis (NASDAQ:ARXS - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.35. The company had revenue of $500.73 million for the quarter. The business's revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Arxis, Inc. will post 0.57 EPS for the current year.

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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