Accelerant (NYSE:ARX) Stock Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Accelerant shares rose above their 200-day moving average of $13.76, reaching $19.78 and last trading at $19.77 on volume of about 1.49 million shares.
• The company reported quarterly EPS of $0.32, exceeding analysts’ $0.16 estimate, on revenue of $356.9 million. However, its negative net margin and consensus analyst rating remains “Hold,” with an average price target of $18.95.
• Insiders sold more than 1.23 million shares worth approximately $16.6 million over the past 90 days, though insiders still own a substantial 66.59% of the company; several institutional investors increased their positions.

Accelerant Holdings (NYSE:ARX - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.76 and traded as high as $19.78. Accelerant shares last traded at $19.77, with a volume of 1,488,977 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ARX. Royal Bank Of Canada lowered Accelerant from a "moderate buy" rating to a "hold" rating and set a $20.25 price objective for the company. in a research report on Friday, August 14th. Morgan Stanley cut their target price on shares of Accelerant from $16.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Monday, July 6th. Citigroup lowered shares of Accelerant from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 13th. BMO Capital Markets lifted their price target on shares of Accelerant from $16.50 to $17.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 16th. Finally, Weiss Ratings raised shares of Accelerant from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 4th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $18.95.

Accelerant Price Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.53 and a current ratio of 1.53. The company has a 50-day moving average price of $14.87 and a 200-day moving average price of $13.76. The firm has a market capitalization of $4.29 billion, a P/E ratio of -2.97 and a beta of 0.04.

Accelerant (NYSE:ARX - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The technology company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.16. Accelerant had a positive return on equity of 42.79% and a negative net margin of 113.08%.The business had revenue of $356.90 million during the quarter. On average, sell-side analysts predict that Accelerant Holdings will post 0.9 earnings per share for the current year.

Insider Activity

In other news, insider Francis James Oneill sold 110,467 shares of the company's stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $14.63, for a total value of $1,616,132.21. Following the completion of the sale, the insider directly owned 6,626,772 shares of the company's stock, valued at $96,949,674.36. This represents a 1.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeffrey L. Radke sold 95,223 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $14.60, for a total transaction of $1,390,255.80. Following the completion of the sale, the chief executive officer owned 27,751,939 shares in the company, valued at $405,178,309.40. This represents a 0.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,237,271 shares of company stock valued at $16,557,879 over the last 90 days. Corporate insiders own 66.59% of the company's stock.

Institutional Investors Weigh In On Accelerant

Several large investors have recently bought and sold shares of ARX. Militia Capital Management LLC bought a new position in shares of Accelerant during the first quarter worth $2,004,000. Renaissance Technologies LLC increased its position in shares of Accelerant by 280.5% in the 1st quarter. Renaissance Technologies LLC now owns 276,600 shares of the technology company's stock valued at $3,695,000 after buying an additional 203,900 shares in the last quarter. UBS Group AG increased its position in shares of Accelerant by 331.9% in the 4th quarter. UBS Group AG now owns 535,637 shares of the technology company's stock valued at $8,758,000 after buying an additional 411,612 shares in the last quarter. Azora Capital LP raised its stake in Accelerant by 288.9% during the 4th quarter. Azora Capital LP now owns 2,439,094 shares of the technology company's stock worth $39,879,000 after buying an additional 1,811,976 shares during the period. Finally, Jefferies Financial Group Inc. raised its stake in Accelerant by 349.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 44,980 shares of the technology company's stock worth $735,000 after buying an additional 34,980 shares during the period.

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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