Lyntris (NYSE:LYNX) Stock Price Up 11.3% on Better-Than-Expected Earnings

Lyntris Inc. (NYSE:LYNX)’s share price shot up 11.3% during trading on Friday following a stronger than expected earnings report. The company traded as high as $12.65 and last traded at $12.62. Approximately 182,653 shares traded hands during trading, a decline of 67% from the average daily volume of 560,718 shares. The stock had previously closed at $11.34.

The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.07. The firm had revenue of $194.43 million for the quarter. The company’s quarterly revenue was up 90.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.02 earnings per share.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LYNX shares. Citigroup started coverage on shares of Lyntris in a report on Monday, September 14th. They issued a “buy” rating and a $19.00 target price on the stock. Evercore assumed coverage on Lyntris in a research note on Monday, September 14th. They set an “outperform” rating and a $22.00 price target on the stock. UBS Group set a $21.00 price objective on Lyntris in a research report on Monday, September 14th. Bank of America assumed coverage on Lyntris in a research report on Monday, September 14th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Raymond James Financial upgraded shares of Lyntris from an “outperform” rating to a “strong-buy” rating and set a $18.00 target price for the company in a research report on Thursday. Two 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. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $20.57.

Insider Transactions at Lyntris

In related news, CFO Tim Paulin sold 55,169 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $16.45, for a total value of $907,530.05. Following the completion of the transaction, the chief financial officer directly owned 496,525 shares of the company’s stock, valued at approximately $8,167,836.25. This represents a 10.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Matthew Alty sold 238,583 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $16.45, for a total value of $3,924,690.35. Following the transaction, the president owned 1,789,377 shares of the company’s stock, valued at approximately $29,435,251.65. This trade represents a 11.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 8,912,282 shares of company stock worth $155,357,039.

Lyntris Price Performance

The stock’s 50-day moving average is $12.32.

About Lyntris

Lyntris Inc is a defense technology company delivering sense-to-act connectivity solutions for the modern, connected battlespace. Lyntris Inc is based in WASHINGTON.