Shares of Lyntris Inc. (NYSE:LYNX – Get Free Report) gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $9.39, but opened at $11.30. Lyntris shares last traded at $11.43, with a volume of 321,725 shares.
The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.08 by $0.07. The firm had revenue of $194.43 million during the quarter. The business’s revenue was up 90.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.02 earnings per share.
Analyst Ratings Changes
A number of equities research analysts have recently commented on LYNX shares. Guggenheim began coverage on shares of Lyntris in a research report on Monday, September 14th. They issued a “buy” rating and a $20.00 target price for the company. Raymond James Financial raised shares of Lyntris from an “outperform” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a research note on Thursday. Evercore initiated coverage on shares of Lyntris in a research report on Monday, September 14th. They set an “outperform” rating and a $22.00 price target on the stock. Robert W. Baird raised shares of Lyntris from a “neutral” rating to an “outperform” rating and set a $18.00 price objective for the company in a research note on Thursday. Finally, Wall Street Zen upgraded shares of Lyntris to a “hold” rating in a report on Saturday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $19.86.
View Our Latest Research Report on LYNX
Insider Activity
In related news, major shareholder Trive Capital Holdings Llc sold 8,333,333 shares of Lyntris stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $17.50, for a total transaction of $145,833,327.50. Following the transaction, the insider owned 11,966,544 shares in the company, valued at approximately $209,414,520. This trade represents a 41.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Tim Paulin sold 55,169 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $16.45, for a total value of $907,530.05. Following the transaction, the chief financial officer directly owned 496,525 shares in the company, valued at $8,167,836.25. This trade represents a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,912,282 shares of company stock valued at $155,357,039 in the last 90 days.
Lyntris Trading Up 22.6%
The company has a fifty day moving average of $12.38.
Lyntris Company Profile
Lyntris Inc is a defense technology company delivering sense-to-act connectivity solutions for the modern, connected battlespace. Lyntris Inc is based in WASHINGTON.
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