Arxis (NASDAQ:ARXS) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Arxis, Inc. (NASDAQ:ARXS)’s stock price crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $50.94 and traded as high as $54.50. Arxis shares last traded at $54.37, with a volume of 883,383 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Weiss Ratings upgraded Arxis from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, November 2nd. Wells Fargo & Company raised their price objective on Arxis from $52.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Jefferies Financial Group reiterated a “buy” rating and issued a $60.00 target price on shares of Arxis in a report on Sunday, August 2nd. Royal Bank Of Canada increased their target price on shares of Arxis from $60.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, October 30th. Finally, Morgan Stanley raised 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 given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.36.

Arxis Price Performance

The business has a 50 day moving average price of $50.94 and a two-hundred day moving average price of $46.49. The stock has a market cap of $23.42 billion and a PE ratio of 139.41. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.27 and a current ratio of 4.70.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ARXS. Stephens Investment Management Group LLC bought a new position in Arxis in the 3rd quarter valued at $36,109,000. Squarepoint Ops LLC bought a new stake in shares of Arxis during the 2nd quarter worth $19,506,000. Voya Investment Management LLC bought a new stake in shares of Arxis during the 3rd quarter worth $19,180,000. Alyeska Investment Group L.P. purchased a new position in shares of Arxis in the 2nd quarter worth about $13,842,000. Finally, State Street Corp purchased a new stake in Arxis during the second quarter worth about $9,948,000.

Arxis Company Profile

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.