CynergisTek (NYSEAMERICAN:CTEK) Downgraded to Hold at Zacks Investment Research

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Zacks Investment Research downgraded shares of CynergisTek (NYSEAMERICAN:CTEK) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “CynergisTek, Inc. provides cyber security and information management consulting in healthcare industry. It specializes in privacy, security, compliance and document management. The company’s service includes risk assessment, technical security, baseline security, information security program assessment, print security, vulnerability, architecture, penetration testing, social engineering and phishing and riskSonar assessment tool. CynergisTek Inc., formerly known as Auxilio, Inc., is headquartered in Mission Viejo, CA. “

CTEK has been the subject of several other reports. B. Riley set a $7.00 target price on CynergisTek and gave the company a buy rating in a research note on Friday, August 16th. TheStreet cut CynergisTek from a c- rating to a d rating in a research note on Monday, November 11th.

Shares of CynergisTek stock traded down $0.03 on Wednesday, hitting $2.86. 17,113 shares of the company’s stock traded hands, compared to its average volume of 25,886. CynergisTek has a 52-week low of $2.44 and a 52-week high of $5.00.

In related news, CEO William Caleb Barlow bought 10,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were bought at an average cost of $2.85 per share, for a total transaction of $28,500.00. Insiders acquired 26,000 shares of company stock worth $80,900 over the last quarter.

A number of hedge funds have recently bought and sold shares of CTEK. ARS Investment Partners LLC grew its holdings in CynergisTek by 29.7% during the second quarter. ARS Investment Partners LLC now owns 681,157 shares of the company’s stock worth $3,297,000 after acquiring an additional 156,034 shares during the period. River & Mercantile Asset Management LLP purchased a new position in CynergisTek in the 2nd quarter worth about $709,000. Seizert Capital Partners LLC purchased a new position in CynergisTek in the 2nd quarter worth about $340,000. Renaissance Technologies LLC increased its stake in CynergisTek by 69.9% in the 2nd quarter. Renaissance Technologies LLC now owns 107,983 shares of the company’s stock worth $523,000 after purchasing an additional 44,441 shares in the last quarter. Finally, Connors Investor Services Inc. increased its stake in CynergisTek by 23.3% in the 3rd quarter. Connors Investor Services Inc. now owns 71,450 shares of the company’s stock worth $220,000 after purchasing an additional 13,500 shares in the last quarter.

CynergisTek Company Profile

Cynergistek, Inc provides outsourced document solutions, IT consulting data security, and managed print services primarily to the healthcare industry in the United States. The company offers Incident Response, Vendor Security Management, and Patient Privacy Monitoring Service, as well as Compliance Assist Partner Program.

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