Lyntris (NYSE:LYNX) Upgraded to Strong-Buy at Evercore

Evercore upgraded shares of Lyntris (NYSE:LYNX) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks reports.

Several other analysts have also recently issued reports on the company. Robert W. Baird set a $18.00 price objective on Lyntris in a report on Monday. Citigroup assumed coverage on shares of Lyntris in a research note on Monday. They set a “buy” rating and a $19.00 price target on the stock. Raymond James Financial began coverage on shares of Lyntris in a research note on Monday. They issued an “outperform” rating and a $18.00 price objective for the company. Guggenheim started coverage on shares of Lyntris in a report on Monday. They issued a “buy” rating and a $20.00 target price on the stock. Finally, UBS Group set a $21.00 target price on shares of Lyntris in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $19.86.

Lyntris Price Performance

NYSE:LYNX opened at $13.50 on Monday. Lyntris has a 12 month low of $12.21 and a 12 month high of $16.00.

Insiders Place Their Bets

In related news, major shareholder Trive Capital Holdings Llc sold 8,333,333 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $17.50, for a total value of $145,833,327.50. Following the sale, the insider directly owned 11,966,544 shares of the company’s stock, valued at $209,414,520. This represents a 41.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian Raduenz sold 98,445 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $16.45, for a total value of $1,619,420.25. Following the transaction, the director owned 177,203 shares of the company’s stock, valued at $2,914,989.35. This trade represents a 35.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 8,912,282 shares of company stock valued at $155,357,039.

Key Stories Impacting Lyntris

Here are the key news stories impacting Lyntris this week:

• Positive Sentiment: Evercore upgraded Lyntris to strong-buy, following its recent initiation of coverage at outperform. The firm’s favorable stance signals confidence in the company’s growth prospects. Evercore ISI Group initiates coverage of Lyntris at outperform
• Positive Sentiment: Bank of America initiated coverage with a buy rating and a $21 price target, implying substantial upside from the referenced $13.50 level. Lyntris rated as buy in new coverage at Bank of America Securities
• Positive Sentiment: Citigroup also began coverage with a buy rating and a $19 price target, representing approximately 40.7% potential upside from the referenced current price. Citigroup initiates coverage of Lyntris
• Neutral Sentiment: Robert W. Baird upgraded Lyntris to hold. While technically an upgrade, the rating remains cautious and provides less bullish support than the other recent analyst calls.

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.