Satixfy Communications (NYSEAMERICAN:SATX) Stock Price Down 6.5% – What’s Next?

Satixfy Communications Ltd. (NYSEAMERICAN:SATX) dropped 6.5% during trading on Tuesday . The stock traded as low as $1.69 and last traded at $1.74. Approximately 273,950 shares were traded during trading, a decline of 48% from the average daily volume of 525,688 shares. The stock had previously closed at $1.86.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SATX shares. Northland Securities initiated coverage on shares of Satixfy Communications in a research report on Thursday, December 5th. They set an “outperform” rating and a $2.00 price objective on the stock. Alliance Global Partners began coverage on Satixfy Communications in a report on Monday, December 16th. They set a “buy” rating and a $2.50 price target on the stock. Finally, Northland Capmk raised Satixfy Communications to a “strong-buy” rating in a research note on Thursday, December 5th.

Satixfy Communications Stock Down 9.2 %

Institutional Trading of Satixfy Communications

An institutional investor recently raised its position in Satixfy Communications stock. Senvest Management LLC raised its stake in shares of Satixfy Communications Ltd. (NYSEAMERICAN:SATX) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,277,958 shares of the company’s stock after purchasing an additional 95,115 shares during the quarter. Senvest Management LLC owned 5.15% of Satixfy Communications worth $3,024,000 as of its most recent filing with the Securities and Exchange Commission. 5.04% of the stock is currently owned by hedge funds and other institutional investors.

Satixfy Communications Company Profile

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.