Short Interest in Satixfy Communications Ltd. (NYSEAMERICAN:SATX) Declines By 31.3%

Satixfy Communications Ltd. (NYSEAMERICAN:SATX - Get Free Report) was the target of a large drop in short interest in May. As of May 31st, there was short interest totalling 134,400 shares, a drop 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 presently 0.2 days. Currently, 0.4% of the company's stock are short sold.

Analysts Set New Price Targets

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

Satixfy Communications Stock Performance

Shares of SATX opened at $2.89 on Tuesday. Satixfy Communications has a 52-week low of $0.58 and a 52-week high of $2.97. The business's 50-day moving average is $2.37.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its position in Satixfy Communications by 255.8% during the fourth quarter. Renaissance Technologies LLC now owns 199,597 shares of the company's stock valued at $305,000 after purchasing an additional 143,497 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Satixfy Communications during the 4th quarter valued at $33,000. Finally, State of Wyoming purchased a new stake in shares of Satixfy Communications during the 1st quarter valued at $31,000. Institutional investors own 5.04% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.