CONX Corp. (NASDAQ:CONX) Sees Large Increase in Short Interest

CONX Corp. (NASDAQ:CONX) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 8,500 shares, a growth of 10.4% from the March 15th total of 7,700 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average trading volume of 1,600 shares, the short-interest ratio is currently 5.3 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Potomac Capital Management Inc. purchased a new stake in shares of CONX during the third quarter valued at approximately $14,505,000. Jane Street Group LLC raised its stake in shares of CONX by 46.6% during the third quarter. Jane Street Group LLC now owns 2,166,483 shares of the company’s stock valued at $21,654,000 after purchasing an additional 688,173 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of CONX during the second quarter valued at approximately $3,907,000. Sculptor Capital LP raised its stake in shares of CONX by 2,527.4% during the first quarter. Sculptor Capital LP now owns 351,807 shares of the company’s stock valued at $3,465,000 after purchasing an additional 338,417 shares during the period. Finally, Bank of America Corp DE purchased a new stake in shares of CONX during the first quarter valued at approximately $3,124,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

CONX Stock Performance

NASDAQ CONX opened at $10.59 on Wednesday. CONX has a one year low of $10.11 and a one year high of $11.35. The company’s 50 day moving average price is $10.61 and its 200 day moving average price is $10.60.

About CONX

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.