CynergisTek Inc (NYSEAMERICAN:CTEK) Sees Large Decline in Short Interest

CynergisTek Inc (NYSEAMERICAN:CTEK) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 7,900 shares, a decrease of 35.2% from the August 30th total of 12,200 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 30,800 shares, the days-to-cover ratio is currently 0.3 days.

NYSEAMERICAN:CTEK traded down $0.06 during midday trading on Friday, reaching $2.95. The stock had a trading volume of 22,800 shares, compared to its average volume of 26,653. CynergisTek has a 1-year low of $2.75 and a 1-year high of $5.00.

CynergisTek (NYSEAMERICAN:CTEK) last posted its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. The firm had revenue of $5.06 million during the quarter, compared to analyst estimates of $5.80 million.

In other CynergisTek news, Director John D. Abouchar purchased 10,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were bought at an average price of $3.25 per share, for a total transaction of $32,500.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Paul Thomas Anthony purchased 10,800 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were acquired at an average price of $3.10 per share, for a total transaction of $33,480.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 46,800 shares of company stock worth $146,880.

Large investors have recently bought and sold shares of the stock. Morgan Stanley grew its stake in CynergisTek by 208.0% in the 2nd quarter. Morgan Stanley now owns 5,135 shares of the company’s stock valued at $25,000 after buying an additional 3,468 shares during the last quarter. BlackRock Inc. grew its position in CynergisTek by 21.0% in the 2nd quarter. BlackRock Inc. now owns 27,501 shares of the company’s stock worth $133,000 after purchasing an additional 4,771 shares during the last quarter. Seizert Capital Partners LLC acquired a new stake in CynergisTek in the 2nd quarter worth $340,000. Renaissance Technologies LLC grew its position in CynergisTek by 69.9% in the 2nd quarter. Renaissance Technologies LLC now owns 107,983 shares of the company’s stock worth $523,000 after purchasing an additional 44,441 shares during the last quarter. Finally, River & Mercantile Asset Management LLP acquired a new stake in CynergisTek in the 2nd quarter worth $709,000.

Separately, B. Riley set a $7.00 price target on shares of CynergisTek and gave the stock a “buy” rating in a research note on Friday, August 16th.

CynergisTek Company Profile

Cynergistek, Inc provides outsourced document solutions, IT consulting data security, and managed print services primarily to the healthcare industry in the United States. The company offers Incident Response, Vendor Security Management, and Patient Privacy Monitoring Service, as well as Compliance Assist Partner Program.

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