Satixfy Communications (NYSEAMERICAN:SATX) Trading Down 6.5% - Time to Sell?

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Northland Capmk upgraded shares of Satixfy Communications to a "strong-buy" rating in a research note on Thursday, December 5th. Northland Securities started coverage on Satixfy Communications in a research report on Thursday, December 5th. They set an "outperform" rating and a $2.00 price target on the stock. Finally, Alliance Global Partners assumed coverage on Satixfy Communications in a report on Monday, December 16th. They issued a "buy" rating and a $2.50 price objective for the company.

Satixfy Communications Trading Down 9.2 %

Institutional Inflows and Outflows

An institutional investor recently raised its position in Satixfy Communications stock. Senvest Management LLC grew its stake in shares of Satixfy Communications Ltd. (NYSEAMERICAN:SATX - Free Report) by 2.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 4,277,958 shares of the company's stock after acquiring an additional 95,115 shares during the quarter. Senvest Management LLC owned about 5.15% of Satixfy Communications worth $3,024,000 as of its most recent SEC filing. Institutional investors and hedge funds own 5.04% of the company's stock.

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.