NEW YORK ( TheStreet) -- Aeroflex (NYSE: ARX) is trading at unusually high volume Thursday with 751,701 shares changing hands. It is currently at 4.1 times its average daily volume and trading down $1.19 (-9.2%) at $11.75 as of 12:09 p.m. ET. Aeroflex has a market cap of $1.13 billion and is part of the technology sector and electronics industry. Shares are up 26.4% year to date as of the close of trading on Wednesday. Aeroflex Holding Corp. engages in the design, engineering, manufacture, and sale of microelectronic products, and test and measurement equipment in the United States, Europe, the Middle East, Asia, and Australia. TheStreet Ratings rates Aeroflex as a sell. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow and generally weak debt management. You can view the full Aeroflex Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.
Aeroflex (ARX) surged more than 25% to a one-year high of $10.47 on Tuesday after British aerospace and defense supplier Cobham announced it would purchase the U.S. communications equipment manufacturer for $920 million.
Acquisitive U.K. aerospace company Cobham on Tuesday agreed to buy Plainview, N.Y-based Aeroflex Holding for $1.5 billion in cash and debt to further expand its communications business and offer new markets for the target's products.
Shares of Aeroflex Holding (ARX) are up over 24% in pre-market trade after it was announced that the wireless communications firm entered into a merger agreement with U.K.-listed Cobham in a deal valued at $920 million.