Lyntris (NYSE:LYNX) Releases Earnings Results, Beats Expectations By $0.07 EPS

Lyntris (NYSE:LYNX) posted its quarterly earnings data on Thursday. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.07, FiscalAI reports. The company had revenue of $194.43 million for the quarter. During the same quarter in the previous year, the firm posted $0.02 EPS. The company’s revenue for the quarter was up 90.4% on a year-over-year basis.

Lyntris Trading Up 22.6%

Shares of NYSE:LYNX traded up $2.56 during trading on Friday, reaching $13.90. The stock had a trading volume of 766,558 shares, compared to its average volume of 572,155. Lyntris has a 52 week low of $8.75 and a 52 week high of $16.00. The firm has a 50-day simple moving average of $12.32.

Insider Buying and Selling at Lyntris

In related news, Director Brian Raduenz sold 98,445 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $16.45, for a total transaction of $1,619,420.25. Following the sale, the director directly owned 177,203 shares in the company, valued at $2,914,989.35. This represents a 35.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Trive Capital Holdings Llc sold 8,333,333 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $17.50, for a total value of $145,833,327.50. Following the sale, the insider directly owned 11,966,544 shares of the company’s stock, valued at $209,414,520. This represents a 41.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 8,912,282 shares of company stock worth $155,357,039 over the last 90 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LYNX shares. Robert W. Baird raised 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. Zacks Research upgraded Lyntris to a “hold” rating in a report on Tuesday, September 15th. William Blair began coverage on shares of Lyntris in a research note on Monday, September 14th. They issued an “outperform” rating for the company. Bank of America initiated coverage on Lyntris in a research report on Monday, September 14th. They set a “buy” rating and a $21.00 price objective for the company. Finally, Wall Street Zen raised shares of Lyntris to a “hold” rating in a report on Saturday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $20.57.

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.