Lyntris Inc. (NYSE:LYNX) Short Interest Up ∞ in August

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. Based on an average daily volume of 1,661,656 shares, the short-interest ratio is presently 0.3 days. Currently, 0.4% of the company’s stock are short sold.

Lyntris Trading Down 1.6%

Shares of Lyntris stock traded down $0.21 on Tuesday, reaching $13.25. 155,931 shares of the stock were exchanged, compared to its average volume of 680,718. Lyntris has a 1-year low of $12.21 and a 1-year high of $16.00.

Wall Street Analysts Forecast Growth

LYNX has been the topic of several research reports. William Blair began coverage on Lyntris in a report on Monday. They set an “outperform” rating on the stock. Evercore started coverage on shares of Lyntris in a research report on Monday. They set an “outperform” rating and a $22.00 target price on the stock. Wall Street Zen upgraded shares of Lyntris to a “hold” rating in a research report on Saturday, August 29th. Bank of America began coverage on shares of Lyntris in a research report on Monday. They set a “buy” rating and a $21.00 price objective on the stock. Finally, Robert W. Baird set a $18.00 price target on Lyntris in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $19.86.

Insider Buying and Selling

In related news, major shareholder Trive Capital Holdings Llc sold 8,333,333 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Matthew Alty sold 238,583 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were 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 represents a 11.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 8,912,282 shares of company stock worth $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,” 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.

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.