Mynaric AG (NASDAQ:MYNA – Get Rating) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 7,200 shares, a decrease of 57.4% from the December 31st total of 16,900 shares. Based on an average daily trading volume, of 11,500 shares, the short-interest ratio is currently 0.6 days.

Institutional Investors Weigh In On Mynaric

An institutional investor recently bought a new position in Mynaric stock. Pinnacle Associates Ltd. acquired a new stake in shares of Mynaric AG (NASDAQ:MYNA – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,625 shares of the company's stock, valued at approximately $57,000. Pinnacle Associates Ltd. owned about 0.06% of Mynaric as of its most recent SEC filing. Hedge funds and other institutional investors own 4.15% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Credit Suisse Group lowered Mynaric from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $9.00 to $4.00 in a research report on Thursday, January 12th. Canaccord Genuity Group decreased their price target on shares of Mynaric from $27.00 to $20.00 and set a "buy" rating for the company in a research note on Wednesday, October 26th.

Mynaric Price Performance

Mynaric Company Profile

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Mynaric AG engages in developing and manufacturing advanced laser communication technology for long-distance data transmission between moving objects for wireless terrestrial, airborne, and space applications in Germany and internationally. The company offers CONDOR, an optical inter-satellite link flight terminal for satellite-to-satellite communications in space; and HAWK, an airborne flight terminal for air-to-air and air-to-ground links of airborne vehicles.

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