CynergisTek (CTEK) Rating Lowered to Hold at Zacks Investment Research

CynergisTek (NYSEAMERICAN:CTEK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

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. “

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CTEK has been the topic of several other research reports. TheStreet downgraded CynergisTek from a “b-” rating to a “c-” rating in a report on Wednesday, March 28th. Roth Capital assumed coverage on CynergisTek in a report on Monday, January 29th. They set a “buy” rating and a $7.20 price objective on the stock. Finally, B. Riley restated a “buy” rating and set a $8.25 price objective (up previously from $6.25) on shares of CynergisTek in a report on Thursday, March 22nd.

Shares of CynergisTek opened at $4.11 on Tuesday, according to CynergisTek has a twelve month low of $4.18 and a twelve month high of $4.23.

CynergisTek (NYSEAMERICAN:CTEK) last issued its quarterly earnings results on Monday, May 14th. The company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.05). The business had revenue of $16.38 million for the quarter, compared to the consensus estimate of $17.45 million.

Large investors have recently added to or reduced their stakes in the stock. Connors Investor Services Inc. acquired a new position in CynergisTek in the fourth quarter worth approximately $148,000. King Luther Capital Management Corp acquired a new position in CynergisTek in the fourth quarter worth approximately $278,000. ARS Investment Partners LLC acquired a new position in CynergisTek in the first quarter worth approximately $1,251,000. Finally, Perritt Capital Management Inc. increased its holdings in CynergisTek by 22.6% in the fourth quarter. Perritt Capital Management Inc. now owns 402,235 shares of the company’s stock worth $1,629,000 after buying an additional 74,042 shares during the last quarter.

CynergisTek Company Profile

Cynergistek, Inc provides outsourced document management services and IT security consulting services primarily to the healthcare industry in the United States. It offers workflow solutions; and creates manageable, dependable print management programs by managing the back-office processes of hospital clients.

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