Accelerant (NYSE:ARX) Shares Down 8.5% – What’s Next?

Accelerant Holdings (NYSE:ARX)’s share price was down 8.5% during trading on Wednesday . The stock traded as low as $12.45 and last traded at $12.3450. Approximately 655,225 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 1,178,503 shares. The stock had previously closed at $13.49.

Analyst Ratings Changes

Several equities analysts have commented on ARX shares. TD Cowen cut their price target on Accelerant from $36.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Wells Fargo & Company raised Accelerant from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $17.00 to $15.00 in a report on Friday, March 20th. Morgan Stanley cut their price target on Accelerant from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Raymond James Financial reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Accelerant in a report on Tuesday, February 17th. Finally, Piper Sandler cut their price target on Accelerant from $18.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, February 23rd. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Accelerant currently has a consensus rating of “Moderate Buy” and an average price target of $18.17.

Accelerant Stock Performance

The company has a market capitalization of $3.43 billion and a P/E ratio of -2.21. The firm has a 50 day moving average price of $12.88 and a two-hundred day moving average price of $13.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61.

Accelerant (NYSE:ARX) last released its quarterly earnings data on Wednesday, May 13th. The technology company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. Accelerant had a positive return on equity of 56.42% and a negative net margin of 135.47%.The company had revenue of $273.20 million for the quarter. The company’s quarterly revenue was up 53.5% on a year-over-year basis. On average, research analysts expect that Accelerant Holdings will post 0.68 earnings per share for the current fiscal year.

Insider Transactions at Accelerant

In other Accelerant news, CFO Jay Michael Green sold 50,000 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $12.77, for a total transaction of $638,500.00. Following the transaction, the chief financial officer owned 1,175,589 shares of the company’s stock, valued at approximately $15,012,271.53. This represents a 4.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 66.59% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Entropy Technologies LP acquired a new position in shares of Accelerant in the 1st quarter valued at $239,000. Renaissance Technologies LLC lifted its stake 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 purchasing an additional 203,900 shares during the period. Sei Investments Co. lifted its stake in shares of Accelerant by 95.1% in the 1st quarter. Sei Investments Co. now owns 73,935 shares of the technology company’s stock valued at $988,000 after purchasing an additional 36,033 shares during the period. State of Wyoming acquired a new position in shares of Accelerant in the 1st quarter valued at $28,000. Finally, Militia Capital Management LLC acquired a new position in shares of Accelerant in the 1st quarter valued at $2,004,000.

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.