BlueCrest Capital Management Ltd Buys Shares of 160,138 Arxis, Inc. $ARXS

BlueCrest Capital Management Ltd purchased a new position in shares of Arxis, Inc. (NASDAQ:ARXS) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 160,138 shares of the company’s stock, valued at approximately $7,389,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Alyeska Investment Group L.P. acquired a new stake in shares of Arxis in the 2nd quarter worth $13,842,000. Grandeur Peak Global Advisors LLC acquired a new position in Arxis during the 2nd quarter valued at about $2,740,000. IMC Chicago LLC purchased a new stake in Arxis in the second quarter valued at about $1,146,000. Amundi acquired a new stake in Arxis in the second quarter worth about $358,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Arxis during the second quarter worth about $19,506,000.

Analyst Upgrades and Downgrades

ARXS has been the subject of several research analyst reports. Citigroup increased their price objective on shares of Arxis from $61.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Weiss Ratings initiated coverage on shares of Arxis in a research report on Monday, August 3rd. They set a “sell (d+)” rating on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $60.00 price target on shares of Arxis in a report on Sunday, August 2nd. Wells Fargo & Company lifted their price objective on shares of Arxis from $52.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $62.00 target price on shares of Arxis in a research report on Monday, August 3rd. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Arxis presently has an average rating of “Moderate Buy” and an average target price of $53.73.

Arxis Price Performance

Shares of Arxis stock opened at $52.43 on Thursday. The company has a current ratio of 5.21, a quick ratio of 3.79 and a debt-to-equity ratio of 0.38. The business’s fifty day simple moving average is $50.06. Arxis, Inc. has a 1 year low of $33.15 and a 1 year high of $61.50. The stock has a market capitalization of $21.89 billion and a PE ratio of 655.38.

Arxis (NASDAQ:ARXS) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.35. The business had revenue of $500.73 million during the quarter. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, equities analysts expect that Arxis, Inc. will post 0.57 EPS for the current year.

Arxis Company Profile

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.