SatixFy Communications Ltd. (NYSEAMERICAN:SATX - Get Free Report) was the target of a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 134,400 shares, a decrease of 31.3% from the May 15th total of 195,500 shares. Based on an average trading volume of 822,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.4% of the company's stock are sold short.
Institutional Investors Weigh In On SatixFy Communications
A number of large investors have recently modified their holdings of SATX. Renaissance Technologies LLC raised its holdings in SatixFy Communications by 255.8% in the fourth quarter. Renaissance Technologies LLC now owns 199,597 shares of the company's stock valued at $305,000 after acquiring an additional 143,497 shares in the last quarter. XTX Topco Ltd acquired a new position in SatixFy Communications during the 4th quarter worth $33,000. Finally, State of Wyoming bought a new stake in shares of SatixFy Communications in the 1st quarter worth about $31,000. Institutional investors and hedge funds own 5.04% of the company's stock.
SatixFy Communications Trading Up 0.3%
Shares of SATX stock traded up $0.01 during mid-day trading on Friday, hitting $2.90. 236,667 shares of the company's stock were exchanged, compared to its average volume of 321,050. The stock has a market capitalization of $248.44 million, a PE ratio of -5.58 and a beta of 0.74. SatixFy Communications has a fifty-two week low of $0.58 and a fifty-two week high of $2.97. The company has a 50-day simple moving average of $2.42.
Analyst Ratings Changes
Separately, Alliance Global Partners lowered shares of SatixFy Communications from a "buy" rating to a "neutral" rating and set a $2.10 price objective on the stock. in a research note on Friday, May 9th.
View Our Latest Stock Analysis on SATX
SatixFy Communications Company Profile
(
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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.
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