Short Interest in Satixfy Communications Ltd. (NYSEAMERICAN:SATX) Declines By 40.5%

Satixfy Communications Ltd. (NYSEAMERICAN:SATX) was the target of a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 9,400 shares, a drop of 40.5% from the January 31st total of 15,800 shares. Based on an average daily trading volume, of 246,700 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the company’s shares are sold short.

Satixfy Communications Stock Performance

Shares of Satixfy Communications stock traded down $0.01 during trading hours on Tuesday, hitting $1.06. 62,423 shares of the company’s stock traded hands, compared to its average volume of 186,269. Satixfy Communications has a twelve month low of $0.50 and a twelve month high of $2.39.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Alliance Global Partners assumed coverage on Satixfy Communications in a report on Monday, December 16th. They issued a “buy” rating and a $2.50 price target for the company. Northland Capmk upgraded Satixfy Communications to a “strong-buy” rating in a report on Thursday, December 5th. Finally, Northland Securities started coverage on Satixfy Communications in a research note on Thursday, December 5th. They set an “outperform” rating and a $2.00 target price for the company.

Institutional Trading of Satixfy Communications

Large investors have recently modified their holdings of the business. Senvest Management LLC grew its stake in shares of Satixfy Communications by 2.3% during the third quarter. Senvest Management LLC now owns 4,277,958 shares of the company’s stock valued at $3,024,000 after acquiring an additional 95,115 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of 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 purchasing an additional 143,497 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Satixfy Communications during the fourth quarter worth about $33,000. 5.04% of the stock is currently owned by institutional investors and hedge funds.

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.