CONX Corp. (NASDAQ:CONX) Sees Large Increase in Short Interest

CONX Corp. (NASDAQ:CONX) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 8,500 shares, a growth of 10.4% from the March 15th total of 7,700 shares. Based on an average trading volume of 1,600 shares, the days-to-cover ratio is currently 5.3 days. Currently, 0.4% of the company’s stock are short sold.

Hedge Funds Weigh In On CONX

Several hedge funds and other institutional investors have recently modified their holdings of the company. Deutsche Bank AG purchased a new stake in CONX in the 3rd quarter worth $27,000. UBS Group AG grew its position in CONX by 80.6% in the first quarter. UBS Group AG now owns 6,522 shares of the company’s stock worth $64,000 after acquiring an additional 2,910 shares in the last quarter. Berkley W R Corp purchased a new position in CONX in the first quarter worth about $174,000. Walleye Capital LLC purchased a new position in CONX in the second quarter worth about $214,000. Finally, Geode Capital Management LLC lifted its stake in CONX by 43.9% in the fourth quarter. Geode Capital Management LLC now owns 76,115 shares of the company’s stock worth $757,000 after purchasing an additional 23,235 shares during the last quarter. 8.97% of the stock is owned by institutional investors.

CONX Price Performance

NASDAQ CONX opened at $10.59 on Wednesday. The business’s fifty day moving average price is $10.61 and its 200-day moving average price is $10.60. CONX has a 1-year low of $10.11 and a 1-year high of $11.35.

CONX Company Profile

CONX Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or assets. It intends to focus its search on identifying a prospective target operating in the technology, media, and telecommunications industries, including wireless communications industry.