Lyntris (NYSE:LYNX) Shares Up 11.3% on Earnings Beat

Lyntris Inc. (NYSE:LYNX) was up 11.3% on Friday after the company announced better than expected quarterly earnings. The stock 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 (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.07. The business had revenue of $194.43 million during the quarter. During the same quarter in the prior year, the firm earned $0.02 EPS. The company’s revenue was up 90.4% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of research firms recently commented on LYNX. William Blair assumed coverage on Lyntris in a report on Monday, September 14th. They set an “outperform” rating for the company. Wall Street Zen raised shares of Lyntris to a “hold” rating in a report on Saturday, August 29th. Raymond James Financial upgraded Lyntris from an “outperform” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a research report on Thursday. Citigroup initiated coverage on Lyntris in a research note on Monday, September 14th. They issued a “buy” rating and a $19.00 price target for the company. Finally, Guggenheim boosted their price target on Lyntris from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Lyntris presently has a consensus rating of “Buy” and an average price target of $20.57.

Insider Activity at Lyntris

In related news, Director Brian Raduenz sold 98,445 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $16.45, for a total value of $1,619,420.25. Following the completion of the transaction, the director owned 177,203 shares in the company, valued at $2,914,989.35. This trade represents a 35.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tim Paulin sold 55,169 shares of Lyntris stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $16.45, for a total transaction of $907,530.05. Following the transaction, the chief financial officer owned 496,525 shares in the company, valued at approximately $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. In the last ninety days, insiders sold 8,912,282 shares of company stock valued at $155,357,039.

Lyntris Price Performance

The business’s fifty 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.