Arxis (NASDAQ:ARXS) Stock: Insider Kevin Scott Perhamus Sells 25,000 Shares

Arxis, Inc. (NASDAQ:ARXS) insider Kevin Perhamus sold 25,000 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $50.92, for a total transaction of $1,273,000.00. Following the sale, the insider owned 3,548,133 shares in the company, valued at $180,670,932.36. The trade was a 0.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Arxis Trading Down 0.9%

ARXS opened at $53.29 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.27 and a current ratio of 4.70. Arxis, Inc. has a fifty-two week low of $33.15 and a fifty-two week high of $61.50. The firm’s fifty day moving average is $50.99 and its 200 day moving average is $46.59.

Analyst Upgrades and Downgrades

A number of research firms have commented on ARXS. Royal Bank Of Canada raised their price target on Arxis from $60.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, October 30th. Citigroup upped their price objective on Arxis from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Arxis in a research note on Sunday, August 2nd. Morgan Stanley increased their target price on Arxis from $62.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Finally, Weiss Ratings raised Arxis from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, November 2nd. Eleven investment 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.36.

Hedge Funds Weigh In On Arxis

Several hedge funds have recently modified their holdings of ARXS. State of Alaska Department of Revenue purchased a new stake in Arxis in the 3rd quarter worth $157,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Arxis by 22.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,133 shares of the company’s stock valued at $945,000 after purchasing an additional 3,521 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Arxis during the 2nd quarter valued at about $207,000. Third View Private Wealth LLC purchased a new position in shares of Arxis during the third quarter valued at about $264,000. Finally, Amundi purchased a new position in shares of Arxis during the second quarter valued at about $358,000.

About Arxis

Arxis, Inc. is a manufacturer and supplier of engineered products for the aerospace and defense industries. Its components and systems are designed for use in aircraft and other demanding applications. The company serves customers that require specialized, performance-critical products. Publicly available information about its specific product lines, operating history, geographic reach and leadership is limited.