Zacks Investment Research lowered shares of CynergisTek (NYSEAMERICAN:CTEK) from a buy rating to a hold rating in a research note published on Tuesday morning.

According to Zacks, “CynergisTek, Inc. provides cyber security and information management consulting in healthcare industry. It specializes in privacy, security, compliance and document management. The company’s service includes risk assessment, technical security, baseline security, information security program assessment, print security, vulnerability, architecture, penetration testing, social engineering and phishing and riskSonar assessment tool. CynergisTek Inc., formerly known as Auxilio, Inc., is headquartered in Mission Viejo, CA. “

Several other equities analysts also recently commented on the company. B. Riley reiterated a buy rating and set a $8.25 price target (up previously from $6.25) on shares of CynergisTek in a report on Thursday, March 22nd. Roth Capital started coverage on CynergisTek in a report on Monday, January 29th. They set a buy rating and a $7.20 price target on the stock. Finally, TheStreet downgraded CynergisTek from a b- rating to a c- rating in a report on Wednesday, March 28th.

Shares of CynergisTek opened at $4.14 on Tuesday, according to CynergisTek has a twelve month low of $4.18 and a twelve month high of $4.23.

CynergisTek (NYSEAMERICAN:CTEK) last issued its quarterly earnings data on Monday, May 14th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.05). The company had revenue of $16.38 million for the quarter, compared to analysts’ expectations of $17.45 million.

A number of hedge funds have recently made changes to their positions in CTEK. Perritt Capital Management Inc. grew its stake in shares of CynergisTek by 22.6% in the fourth quarter. Perritt Capital Management Inc. now owns 402,235 shares of the company’s stock worth $1,629,000 after acquiring an additional 74,042 shares during the last quarter. King Luther Capital Management Corp acquired a new stake in shares of CynergisTek in the fourth quarter worth $278,000. Connors Investor Services Inc. acquired a new stake in shares of CynergisTek in the fourth quarter worth $148,000. Finally, ARS Investment Partners LLC acquired a new stake in shares of CynergisTek in the first quarter worth $1,251,000.

CynergisTek Company Profile

Cynergistek, Inc provides outsourced document management services and IT security consulting services primarily to the healthcare industry in the United States. It offers workflow solutions; and creates manageable, dependable print management programs by managing the back-office processes of hospital clients.

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