Lyntris Inc. (NYSE:LYNX) Stock Short Interest Report for September

Key Points

• Short interest surged 75.6% in September to 1.02 million shares, representing about 0.9% of Lyntris’ outstanding shares and 2.3 days to cover.
• Lyntris shares recently traded at $11.33, near the lower end of their $10.70–$16.00 52-week range, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $19.86.
• Insiders sold approximately 8.9 million shares worth $155.4 million over the past three months, including substantial sales by major shareholder Trive Capital Holdings and CEO Brian Morrison.

Lyntris Inc. (NYSE:LYNX - Get Free Report) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totaling 1,021,182 shares, a growth of 75.6% from the September 15th total of 581,389 shares. Based on an average daily trading volume, of 450,478 shares, the days-to-cover ratio is presently 2.3 days. Approximately 0.9% of the shares of the stock are sold short.

Lyntris Price Performance

LYNX traded down $0.08 on Thursday, reaching $11.33. 43,193 shares of the company traded hands, compared to its average volume of 571,089. Lyntris has a one year low of $10.70 and a one year high of $16.00. The firm has a fifty day moving average price of $13.16.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LYNX. Robert W. Baird set a $18.00 target price on Lyntris in a report on Monday, September 14th. Citigroup began coverage on shares of Lyntris in a research report on Monday, September 14th. They set a "buy" rating and a $19.00 price objective for the company. Zacks Research raised Lyntris to a "hold" rating in a research report on Tuesday, September 15th. Wall Street Zen upgraded Lyntris to a "hold" rating in a research report on Saturday, August 29th. Finally, Guggenheim assumed coverage on shares of Lyntris in a research note on Monday, September 14th. They set a "buy" rating and a $20.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $19.86.

Insider Transactions at Lyntris

In related news, major shareholder Trive Capital Holdings Llc sold 8,333,333 shares of the company's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $17.50, for a total transaction of $145,833,327.50. Following the completion of the transaction, the insider owned 11,966,544 shares in the company, valued at approximately $209,414,520. This represents a 41.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Morrison sold 186,752 shares of the company's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $16.45, for a total transaction of $3,072,070.40. Following the transaction, the chief executive officer owned 1,286,983 shares of the company's stock, valued at approximately $21,170,870.35. This represents a 12.67% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 8,912,282 shares of company stock valued at $155,357,039.

Lyntris Company Profile

Lyntris Inc is a defense technology company delivering sense-to-act connectivity solutions for the modern, connected battlespace. Lyntris Inc is based in WASHINGTON.

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