Short Interest in Lyntris Inc. (NYSE:LYNX) Rises By ∞

Lyntris Inc. (NYSE:LYNX) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 430,534 shares, a growth of ∞ from the August 15th total of 0 shares. Based on an average daily trading volume, of 1,661,656 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.4% of the shares of the stock are short sold.

Insider Buying and Selling

In related news, President Matthew Alty sold 238,583 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $16.45, for a total value of $3,924,690.35. Following the completion of the transaction, the president directly owned 1,789,377 shares of the company’s stock, valued at $29,435,251.65. This trade represents a 11.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Trive Capital Holdings Llc sold 8,333,333 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $17.50, for a total value of $145,833,327.50. Following the sale, the insider owned 11,966,544 shares in the company, valued at approximately $209,414,520. The trade was a 41.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,912,282 shares of company stock valued at $155,357,039 in the last 90 days.

More Lyntris News

Here are the key news stories impacting Lyntris this week:

• Positive Sentiment: Evercore upgraded Lyntris to “strong-buy,” adding to the recent wave of bullish analyst coverage.
• Positive Sentiment: Robert W. Baird upgraded its view of Lyntris to “hold,” a less bullish signal than the other updates but still an improvement in analyst sentiment.
• Positive Sentiment: Evercore ISI initiated coverage with an “outperform” rating, providing another favorable assessment of the company’s outlook. Evercore ISI Group initiates coverage of Lyntris at outperform
• Positive Sentiment: Bank of America began coverage with a “buy” rating, reinforcing the constructive view from major investment banks. Lyntris rated as buy in new coverage at Bank of America Securities
• Positive Sentiment: Citigroup initiated coverage with a “buy” rating and a $19 price target, implying approximately 44% upside from the referenced $13.18 price. The target provides a potentially significant valuation catalyst.
• Positive Sentiment: Bank of America assigned a “buy” rating and a $21 price target, implying approximately 59% upside from the referenced price and representing the most bullish published target among the reported ratings.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LYNX. Guggenheim assumed coverage on shares of Lyntris in a research note on Monday. They set a “buy” rating and a $20.00 price objective for the company. Raymond James Financial initiated coverage on Lyntris in a report on Monday. They set an “outperform” rating and a $18.00 target price on the stock. Robert W. Baird set a $18.00 price target on Lyntris in a research report on Monday. William Blair started coverage on Lyntris in a research note on Monday. They set an “outperform” rating on the stock. Finally, Wall Street Zen raised Lyntris to a “hold” rating in a research note on Saturday, August 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $19.86.

Lyntris Stock Performance

NYSE:LYNX traded down $0.21 on Tuesday, hitting $13.25. 155,931 shares of the stock were exchanged, compared to its average volume of 680,718. Lyntris has a fifty-two week low of $12.21 and a fifty-two week high of $16.00.

About Lyntris

Lyntris Inc is a defense technology company delivering sense-to-act connectivity solutions for the modern, connected battlespace. Lyntris Inc is based in WASHINGTON.