Short Interest in CONX Corp. (NASDAQ:CONX) Rises By 21.5%

CONX Corp. (NASDAQ:CONXGet Rating) was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totalling 130,000 shares, an increase of 21.5% from the April 15th total of 107,000 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 164,800 shares, the short-interest ratio is currently 0.8 days.

Hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley purchased a new stake in shares of CONX in the first quarter valued at about $489,000. Goldman Sachs Group Inc. lifted its holdings in shares of CONX by 3.5% in the third quarter. Goldman Sachs Group Inc. now owns 1,291,850 shares of the company’s stock valued at $12,660,000 after purchasing an additional 43,943 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of CONX in the third quarter valued at about $100,000. Cowen AND Company LLC purchased a new stake in shares of CONX in the third quarter valued at about $416,000. Finally, Crestline Management LP purchased a new stake in shares of CONX in the third quarter valued at about $100,000. 73.74% of the stock is currently owned by hedge funds and other institutional investors.

CONX stock opened at $9.86 on Wednesday. CONX has a 52 week low of $9.70 and a 52 week high of $9.96. The company’s 50-day moving average price is $9.86 and its 200 day moving average price is $9.84.

About CONX (Get Rating)

CONX Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or assets. It intends to focus its search on identifying a prospective target operating in the technology, media, and telecommunications industries, including wireless communications industry.

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