Satixfy Communications (NYSEAMERICAN:SATX) Trading 0.3% Higher - Here's Why

Satixfy Communications Ltd. (NYSEAMERICAN:SATX - Get Free Report)'s stock price was up 0.3% during mid-day trading on Tuesday . The stock traded as high as $2.92 and last traded at $2.89. Approximately 309,259 shares traded hands during trading, a decline of 1% from the average daily volume of 312,235 shares. The stock had previously closed at $2.88.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners downgraded shares of Satixfy Communications from a "buy" rating to a "neutral" rating and set a $2.10 price objective on the stock. in a report on Friday, May 9th.

Satixfy Communications Trading Up 0.3%

The business's 50-day moving average price is $2.12.

Hedge Funds Weigh In On Satixfy Communications

A number of large investors have recently modified their holdings of SATX. Renaissance Technologies LLC lifted its position in shares of Satixfy Communications by 255.8% during the fourth quarter. Renaissance Technologies LLC now owns 199,597 shares of the company's stock worth $305,000 after purchasing an additional 143,497 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Satixfy Communications during the fourth quarter worth approximately $33,000. Finally, State of Wyoming acquired a new position in shares of Satixfy Communications during the first quarter worth approximately $31,000. 5.04% of the stock is currently owned by institutional investors and hedge funds.

About Satixfy Communications

Satixfy Communications Ltd. engages in the development of vertically integrated satellite communication systems and ground terminal chips worldwide. It offers application-specific and radio frequency integrated circuit chips, such as PRIME and BEAT antenna chips, which enable multi-beamforming and beam-hopping for satellite payloads and user terminals; and SX-4000 satellite payload chips, that enables digital on-board processing, beam- hopping, and enhanced connectivity needs, including positioning, navigation, and timing for LEO, MEO, and GEO satellite communications systems, as well as Aero/IFC systems, and certain COTM and on the pause applications.