Satixfy Communications Ltd. (NYSEAMERICAN:SATX - Get Free Report) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 195,500 shares, a growth of 39.5% from the April 30th total of 140,100 shares. Currently, 0.6% of the company's shares are sold short. Based on an average daily trading volume, of 807,500 shares, the days-to-cover ratio is presently 0.2 days.
Satixfy Communications Stock Performance
Shares of Satixfy Communications stock remained flat at $2.89 on Thursday. 87,124 shares of the stock traded hands, compared to its average volume of 315,223. Satixfy Communications has a 52-week low of $0.58 and a 52-week high of $2.97. The company has a 50 day moving average of $2.24.
Institutional Investors Weigh In On Satixfy Communications
Several institutional investors and hedge funds have recently modified their holdings of SATX. XTX Topco Ltd purchased a new position in Satixfy Communications during the fourth quarter worth $33,000. State of Wyoming purchased a new position in Satixfy Communications during the first quarter worth $31,000. Finally, Renaissance Technologies LLC boosted its stake in 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 buying an additional 143,497 shares during the period. Institutional investors own 5.04% of the company's stock.
Wall Street Analyst Weigh In
Separately, Alliance Global Partners lowered Satixfy Communications from a "buy" rating to a "neutral" rating and set a $2.10 price target for the company. in a research report on Friday, May 9th.
View Our Latest Report 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.
Further Reading
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