ARRIS Group (ARRS) : Traders are bullish on ARRIS Group (ARRS) as it has outperformed the S&P 500 by a wide margin of 9.83% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.6%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.66% in the last 1 week, and is up 10.96% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 5.69% and the 50-Day Moving Average is 13.85%. ARRIS Group (NASDAQ:ARRS): stock turned positive on Friday. Though the stock opened at $27.46, the bulls momentum made the stock top out at $27.7 level for the day. The stock recorded a low of $27.24 and closed the trading day at $27.64, in the green by 0.66%. The total traded volume for the day was 1,133,782. The stock had closed at $27.46 in the previous days trading.
The company Insiders own 1.2% of ARRIS Group shares according to the proxy statements. Institutional Investors own 83.56% of ARRIS Group shares. Also, In a research note released to the investors, Jefferies maintains its rating on ARRIS Group (NASDAQ:ARRS).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Jefferies raises the new price target from $31 per share to $34 per share. The rating by the firm was issued on July 29, 2016.