Arxis, Inc. (NASDAQ:ARXS) Shares Shorted: Short Interest Up 67.1% in September

Arxis, Inc. (NASDAQ:ARXS) was the target of a large growth in short interest in September. As of September 30th, there was short interest totaling 5,948,422 shares, a growth of 67.1% from the September 15th total of 3,559,814 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average trading volume of 1,334,663 shares, the days-to-cover ratio is currently 4.5 days.

Hedge Funds Weigh In On Arxis

Several large investors have recently modified their holdings of ARXS. Squarepoint Ops LLC bought a new position in Arxis in the 2nd quarter worth about $19,506,000. Alyeska Investment Group L.P. bought a new stake in shares of Arxis during the second quarter valued at approximately $13,842,000. State Street Corp purchased a new stake in shares of Arxis in the second quarter valued at approximately $9,948,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Arxis in the second quarter valued at approximately $7,389,000. Finally, Grandeur Peak Global Advisors LLC purchased a new position in Arxis during the 2nd quarter worth $2,740,000.

Analyst Ratings Changes

A number of analysts have commented on ARXS shares. Citigroup lifted their target price on Arxis from $61.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Wells Fargo & Company upped their price target on Arxis from $52.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $62.00 price target on shares of Arxis in a report on Monday, August 3rd. Weiss Ratings raised Arxis from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $60.00 price objective on shares of Arxis in a report on Sunday, August 2nd. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Arxis has an average rating of “Moderate Buy” and an average target price of $54.64.

Arxis Stock Performance

Shares of ARXS stock opened at $53.81 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.79 and a current ratio of 5.21. Arxis has a 12-month low of $33.15 and a 12-month high of $61.50. The stock has a 50 day moving average of $52.20.

Arxis (NASDAQ:ARXS) last announced its earnings results on Wednesday, July 29th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.35. The company had revenue of $500.73 million during the quarter. The company’s revenue was up 25.0% compared to the same quarter last year. On average, analysts predict that Arxis will post 0.57 earnings per share for the current year.

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.