Arxis (NASDAQ:ARXS) Share Price Breaks Above Fifty Day Moving Average - Should You Sell?

Key Points

• Arxis shares rose above their 50-day moving average of $51.18, reaching $52.85 and last trading at $51.99 on volume of 623,407 shares.
• Analyst sentiment is positive: 11 analysts rate the stock Buy and two rate it Hold, for a consensus “Moderate Buy.” Recent price targets include $64 from RBC and $66 from Morgan Stanley; the average target is $55.36.
• Several institutional investors reported new positions in Arxis during the second quarter, including Squarepoint Ops, Alyeska Investment Group, and State Street.

Shares of Arxis, Inc. (NASDAQ:ARXS - Get Free Report) crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $51.18 and traded as high as $52.85. Arxis shares last traded at $51.99, with a volume of 623,407 shares.

Analysts Set New Price Targets

ARXS has been the topic of several recent research reports. Jefferies Financial Group reiterated a "buy" rating and issued a $60.00 price target on shares of Arxis in a report on Sunday, August 2nd. Citigroup boosted their price objective on Arxis from $61.00 to $67.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Weiss Ratings raised Arxis from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday. Royal Bank Of Canada increased their target price on Arxis from $60.00 to $64.00 and gave the stock an "outperform" rating in a report on Friday, October 30th. Finally, Morgan Stanley lifted their price target on shares of Arxis from $62.00 to $66.00 and gave the company an "overweight" rating in a research report on Friday, October 30th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $55.36.

Arxis Stock Performance

The company has a current ratio of 4.70, a quick ratio of 3.27 and a debt-to-equity ratio of 0.32. The firm has a market cap of $22.39 billion and a P/E ratio of 649.88. The company has a fifty day moving average price of $51.18.

Institutional Trading of Arxis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC purchased a new position in shares of Arxis during the second quarter valued at approximately $19,506,000. Alyeska Investment Group L.P. bought a new stake in Arxis during the second quarter worth $13,842,000. State Street Corp bought a new stake in Arxis during the second quarter worth $9,948,000. BlueCrest Capital Management Ltd purchased a new stake in Arxis in the 2nd quarter valued at $7,389,000. Finally, Grandeur Peak Global Advisors LLC purchased a new stake in Arxis in the 2nd quarter valued at $2,740,000.

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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