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.
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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
NASDAQ MYNA traded down $0.36 during mid-day trading on Thursday, hitting $4.09. The stock had a trading volume of 10,211 shares, compared to its average volume of 5,636. The company has a 50 day simple moving average of $4.11 and a 200 day simple moving average of $5.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.99 and a current ratio of 1.37. Mynaric has a 52-week low of $3.37 and a 52-week high of $12.11.
Mynaric Company Profile
(Get Rating)
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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