Satixfy Communications (NYSEAMERICAN:SATX) Stock Price Up 0.3% – Time to Buy?

Satixfy Communications Ltd. (NYSEAMERICAN:SATX)’s stock price rose 0.3% during trading on Tuesday . The stock traded as high as $2.92 and last traded at $2.89. Approximately 309,259 shares changed hands during mid-day trading, a decline of 1% from the average daily volume of 312,235 shares. The stock had previously closed at $2.88.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners downgraded Satixfy Communications from a “buy” rating to a “neutral” rating and set a $2.10 target price on the stock. in a research report on Friday, May 9th.

Satixfy Communications Stock Performance

The stock has a 50-day simple moving average of $2.03.

Institutional Investors Weigh In On Satixfy Communications

A number of large investors have recently added to or reduced their stakes in SATX. State of Wyoming purchased a new position in shares of Satixfy Communications during the 1st quarter worth about $31,000. XTX Topco Ltd raised its stake in shares of Satixfy Communications by 85.8% during the first quarter. XTX Topco Ltd now owns 39,533 shares of the company’s stock valued at $47,000 after purchasing an additional 18,256 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Satixfy Communications by 255.8% during the fourth quarter. Renaissance Technologies LLC now owns 199,597 shares of the company’s stock valued at $305,000 after purchasing an additional 143,497 shares during the period. 5.04% of the stock is owned by institutional investors and hedge funds.

About Satixfy Communications

Satixfy Communications Ltd. engages in the development of vertically integrated satellite communication systems and ground terminal chips worldwide. It offers application-specific and radio frequency integrated circuit chips, such as PRIME and BEAT antenna chips, which enable multi-beamforming and beam-hopping for satellite payloads and user terminals; and SX-4000 satellite payload chips, that enables digital on-board processing, beam- hopping, and enhanced connectivity needs, including positioning, navigation, and timing for LEO, MEO, and GEO satellite communications systems, as well as Aero/IFC systems, and certain COTM and on the pause applications.