Satixfy Communications (NYSEAMERICAN:SATX) Shares Up 5% – Time to Buy?

Satixfy Communications Ltd. (NYSEAMERICAN:SATX)’s share price was up 5% during mid-day trading on Wednesday . The stock traded as high as $1.27 and last traded at $1.25. Approximately 78,251 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 250,719 shares. The stock had previously closed at $1.19.

Analyst Ratings Changes

SATX has been the topic of a number of recent research reports. Northland Capmk upgraded shares of Satixfy Communications to a “strong-buy” rating in a report on Thursday, December 5th. Northland Securities assumed coverage on Satixfy Communications in a research note on Thursday, December 5th. They set an “outperform” rating and a $2.00 price objective for the company. Finally, Alliance Global Partners began coverage on Satixfy Communications in a report on Monday, December 16th. They set a “buy” rating and a $2.50 price target for the company.

Satixfy Communications Stock Performance

Hedge Funds Weigh In On Satixfy Communications

An institutional investor recently raised its position in Satixfy Communications stock. Senvest Management LLC lifted its holdings in Satixfy Communications Ltd. (NYSEAMERICAN:SATX) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,277,958 shares of the company’s stock after purchasing an additional 95,115 shares during the period. Senvest Management LLC owned about 5.15% of Satixfy Communications worth $3,024,000 at the end of the most recent reporting period. 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.