Arxis (NASDAQ:ARXS) Issues Earnings Results

Arxis (NASDAQ:ARXS) released its quarterly earnings results on Wednesday. The company reported $999.00 earnings per share for the quarter, Zacks reports.

Arxis Stock Up 0.6%

Arxis stock opened at $39.75 on Thursday. Arxis has a 1 year low of $33.15 and a 1 year high of $40.66.

Analyst Ratings Changes

A number of research firms have commented on ARXS. Rothschild & Co Redburn began coverage on shares of Arxis in a research note on Monday, May 11th. They set a “buy” rating and a $40.00 price objective on the stock. William Blair began coverage on shares of Arxis in a research note on Monday, May 11th. They set an “outperform” rating on the stock. Melius Research began coverage on shares of Arxis in a research note on Monday, May 11th. They set a “buy” rating and a $45.00 price objective on the stock. UBS Group set a $53.00 price objective on shares of Arxis in a research note on Monday, May 11th. Finally, Wells Fargo & Company began coverage on shares of Arxis in a research note on Monday, May 11th. They set an “overweight” rating and a $42.00 price objective on the stock. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.27.

Insider Buying and Selling

In other Arxis news, insider Azad Sid Badakhsh purchased 36,000 shares of Arxis stock in a transaction dated Friday, April 17th. The shares were bought at an average cost of $28.00 per share, for a total transaction of $1,008,000.00. Following the transaction, the insider owned 403,864 shares in the company, valued at $11,308,192. This represents a 9.79% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen Duane Oetgen purchased 25,000 shares of Arxis stock in a transaction dated Friday, April 17th. The stock was acquired at an average price of $28.00 per share, for a total transaction of $700,000.00. Following the completion of the transaction, the director owned 30,357 shares in the company, valued at approximately $849,996. The trade was a 466.68% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders purchased 201,564 shares of company stock worth $5,643,792.

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.