Accelerant (NYSE:ARX) Sees Large Volume Increase – Should You Buy?

Accelerant Holdings (NYSE:ARX) shares saw unusually-strong trading volume on Friday . 1,891,496 shares changed hands during trading, a decline of 13% from the previous session’s volume of 2,182,307 shares.The stock last traded at $19.55 and had previously closed at $19.57.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ARX shares. Wells Fargo & Company lowered their price target on shares of Accelerant from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. UBS Group set a $16.00 price objective on shares of Accelerant in a report on Thursday, May 21st. Citizens Jmp cut shares of Accelerant from a “market outperform” rating to a “hold” rating in a research note on Friday, August 14th. Raymond James Financial lowered shares of Accelerant from a “moderate buy” rating to a “hold” rating in a report on Monday. Finally, Morgan Stanley dropped their target price on shares of Accelerant from $16.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.95.

Accelerant Stock Performance

The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.28 billion and a P/E ratio of -2.95. The stock has a fifty day simple moving average of $13.81 and a 200-day simple moving average of $13.33.

Accelerant (NYSE:ARX) last announced its quarterly earnings results on Thursday, August 13th. The technology company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. The company had revenue of $356.90 million during the quarter. Accelerant had a positive return on equity of 42.79% and a negative net margin of 113.08%. Equities analysts expect that Accelerant Holdings will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Accelerant news, CEO Jeffrey L. Radke sold 95,223 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $14.60, for a total value of $1,390,255.80. Following the completion of the sale, the chief executive officer owned 27,751,939 shares of the company’s stock, valued at approximately $405,178,309.40. This represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis James Oneill sold 110,467 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $14.63, for a total transaction of $1,616,132.21. Following the completion of the sale, the insider owned 6,626,772 shares in the company, valued at approximately $96,949,674.36. This trade represents a 1.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,236,729 shares of company stock valued at $16,547,245. Corporate insiders own 66.59% of the company’s stock.

Institutional Trading of Accelerant

Several hedge funds have recently added to or reduced their stakes in ARX. State of Wyoming acquired a new stake in Accelerant during the 1st quarter worth $28,000. Quarry LP acquired a new position in Accelerant in the third quarter valued at about $40,000. PNC Financial Services Group Inc. bought a new stake in shares of Accelerant in the third quarter worth about $42,000. Royal Bank of Canada raised its position in shares of Accelerant by 50.3% during the first quarter. Royal Bank of Canada now owns 7,729 shares of the technology company’s stock worth $103,000 after purchasing an additional 2,585 shares during the period. Finally, CWM LLC acquired a new stake in shares of Accelerant during the fourth quarter worth about $109,000.

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.