Satixfy Communications (NYSEAMERICAN:SATX) Trading Up 5% – Still a Buy?

Satixfy Communications Ltd. (NYSEAMERICAN:SATX) shares shot up 5% on Wednesday . The stock traded as high as $1.27 and last traded at $1.25. 78,251 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 250,719 shares. The stock had previously closed at $1.19.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Northland Securities initiated 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. Alliance Global Partners assumed coverage on shares of Satixfy Communications in a report on Monday, December 16th. They issued a “buy” rating and a $2.50 price target for the company. Finally, Northland Capmk raised shares of Satixfy Communications to a “strong-buy” rating in a report on Thursday, December 5th.

Satixfy Communications Price Performance

Hedge Funds Weigh In On Satixfy Communications

A hedge fund recently raised its stake in Satixfy Communications stock. Senvest Management LLC increased its stake in Satixfy Communications Ltd. (NYSEAMERICAN:SATX) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,277,958 shares of the company’s stock after acquiring an additional 95,115 shares during the period. Senvest Management LLC owned about 5.15% of Satixfy Communications worth $3,024,000 as of its most recent SEC filing. Hedge funds and other institutional investors 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.