Satixfy Communications Ltd. (NYSEAMERICAN:SATX) Sees Large Growth in Short Interest

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.

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.