Lyntris Inc. (NYSE:LYNX) Sees Significant Growth in Short Interest

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

Insiders Place Their Bets

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

Lyntris Trading Up 1.9%

LYNX traded up $0.26 on Wednesday, hitting $13.72. The company had a trading volume of 171,331 shares, compared to its average volume of 674,272. Lyntris has a 12-month low of $12.21 and a 12-month high of $16.00.

Analysts Set New Price Targets

A number of analysts have issued reports on LYNX shares. Guggenheim assumed coverage on Lyntris in a research note on Monday. They issued a “buy” rating and a $20.00 price objective on the stock. Wall Street Zen upgraded Lyntris to a “hold” rating in a research report on Saturday, August 29th. Citigroup initiated coverage on shares of Lyntris in a report on Monday. They issued a “buy” rating and a $19.00 target price for the company. Evercore started coverage on shares of Lyntris in a research report on Monday. They issued an “outperform” rating and a $22.00 price target on the stock. Finally, William Blair began coverage on shares of Lyntris in a research note on Monday. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $19.86.

Lyntris Company Profile

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