SatixFy Communications Ltd. (NYSEAMERICAN:SATX) Sees Large Decline in Short Interest

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.

SatixFy Communications Company Profile

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.