Mynaric AG (NASDAQ:MYNA) Short Interest Down 37.6% in April

Mynaric AG (NASDAQ:MYNAGet Rating) was the target of a large decline in short interest during the month of April. As of April 30th, there was short interest totalling 9,800 shares, a decline of 37.6% from the April 15th total of 15,700 shares. Based on an average trading volume of 36,000 shares, the short-interest ratio is presently 0.3 days.

Large investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in shares of Mynaric in the 4th quarter valued at about $56,000. Millennium Management LLC acquired a new position in shares of Mynaric in the 4th quarter valued at about $209,000. Rokos Capital Management LLP acquired a new position in shares of Mynaric in the 4th quarter valued at about $500,000. Light Sky Macro LP acquired a new position in shares of Mynaric in the 4th quarter valued at about $797,000. Finally, Pentwater Capital Management LP acquired a new position in shares of Mynaric in the 4th quarter valued at about $890,000. 6.65% of the stock is currently owned by institutional investors.

Shares of MYNA opened at $9.16 on Friday. Mynaric has a 12 month low of $8.00 and a 12 month high of $22.00. The stock’s 50-day moving average is $10.17.

Several brokerages have commented on MYNA. Zacks Investment Research downgraded Mynaric from a “hold” rating to a “sell” rating in a report on Thursday. Canaccord Genuity Group cut their target price on Mynaric from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, April 29th.

About Mynaric (Get Rating)

Mynaric AG engages in developing and manufacturing advanced laser communication technology for long-distance wireless data transmission between moving objects for 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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