Spherix Incorporated (NASDAQ:SPEX) last traded at $1.71 with a low of $1.56 and high of $1.85. The change tags the stock as one of the day’s most volatile.
It is trading at $1.71 which is impressively higher than $1.50, the 50 day moving average and quite a bit above the 200 day moving average of $1.43. The 50 day moving average was up $0.21 or +13.74% and the 200 day average went up $0.28 or +19.35%.
Traders are more bearish on the company lately if you take a look at the motion in short interest. The company had a rise in short interest between August 31, 2017 and September 15, 2017 of 8.25%. Short shares increased from 486,345 to 526,456 over that timeframe. With short interest at 526,456 and short average daily volume at 304,340, days to cover is 2.0 and the short interest percentage is 0.11% as of September 15.
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..