Arxis (NASDAQ:ARXS) Trading Up 5.9% – What’s Next?

Arxis, Inc. (NASDAQ:ARXS)’s share price shot up 5.9% on Friday . The stock traded as high as $52.54 and last traded at $51.87. Approximately 328,666 shares changed hands during trading, a decline of 71% from the average session volume of 1,138,257 shares. The stock had previously closed at $48.98.

Analyst Ratings Changes

Several equities analysts have commented on ARXS shares. The Goldman Sachs Group started coverage on shares of Arxis in a report on Monday, May 11th. They issued a “buy” rating and a $53.00 price objective on the stock. UBS Group set a $53.00 target price on Arxis in a research report on Monday, May 11th. Citigroup reiterated a “buy” rating on shares of Arxis in a research report on Friday. William Blair assumed coverage on Arxis in a research report on Monday, May 11th. They issued an “outperform” rating on the stock. Finally, Wells Fargo & Company upped their price target on shares of Arxis from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Arxis has a consensus rating of “Moderate Buy” and a consensus price target of $49.64.

Arxis Stock Performance

The business has a fifty day moving average of $42.65.

Arxis (NASDAQ:ARXS) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.35. The firm had revenue of $500.73 million for the quarter. The company’s revenue was up 25.0% on a year-over-year basis.

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.