Spherix Inc shares had a trading volume of 723K by the end of trading on Tuesday. Volume was up 241.18% over the stocks average daily volume.
Short traders are more bearish on the company if you take into consideration the rise in short interest. The stock recorded a rise in short interest of 35.83% as of October 13, 2017 from the last reporting period. Short shares grew from 437,646 to 594,433 over that timeframe. The days to cover decreased to 1.0 and the short interest percentage is 0.10% as of October 13.
These funds have shifted positions in (SPEX). Kcg Holdings, Inc. bolstered its ownership by buying 18,225 shares an increase of 78.0% from 03/31/2017 to 06/30/2017. Kcg Holdings, Inc. claims 41,591 shares worth $108,000. The total value of its holdings increased 272.4%. As of the end of the quarter Creative Planning had bought a total of 15,000 shares growing its stake by 99.7%. The value of the investment in SPEX went from $39,000 to $45,000 increasing 15.4% for the reporting period.
As of quarter end Citadel Advisors LLC had disposed of 11,365 shares trimming its position 41.2%. The value of the investment in (SPEX) decreased from $34,000 to $24,000 a change of $10,000 quarter over quarter.
The company is now down since yesterday’s close of 1.35. The company’s P/E ratio is N/A and the market cap is 8.29M. In the last earnings report the EPS was $-1.47 with 6.23M shares outstanding.
Spherix Incorporated (Spherix), launched on May 1, 1992, is an intellectual property company that owns patented and unpatented intellectual property. The Company is a patent commercialization company focused on generating revenues from the monetization of intellectual property. The Company owns over 290 patents and patent applications. The Company acquires intellectual property from patent holders in order to maximize the value of the patent holdings by conducting and managing a licensing campaign, or through the settlement and litigation of patents. Some patent holders tend to have limited internal resources and/or expertise to address the unauthorized use of their patented technologies or they simply make the strategic business decision to outsource their intellectual property licensing. They can include individual inventors, large corporations, universities, research laboratories and hospitals. Typically, the Company, or an operating subsidiary, acquires a patent portfolio in exchange for securities of the Company, an upfront cash payment, a percentage of its operating subsidiary’s net recoveries from the licensing and enforcement of the portfolio, or a combination of the foregoing..