CynergisTek (CTEK) Downgraded by Zacks Investment Research to “Sell”

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

Separately, B. Riley reiterated a “buy” rating on shares of CynergisTek in a report on Tuesday, April 2nd.

CTEK stock opened at $4.73 on Tuesday. CynergisTek has a 52 week low of $3.23 and a 52 week high of $5.00.

CynergisTek (NYSEAMERICAN:CTEK) last released its earnings results on Monday, May 13th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $5.77 million for the quarter, compared to analyst estimates of $5.84 million.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC raised its holdings in shares of CynergisTek by 9.4% in the 1st quarter. Essex Investment Management Co. LLC now owns 41,685 shares of the company’s stock worth $207,000 after purchasing an additional 3,581 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of CynergisTek during the first quarter valued at approximately $1,873,000. Renaissance Technologies LLC raised its holdings in shares of CynergisTek by 398.7% during the first quarter. Renaissance Technologies LLC now owns 63,542 shares of the company’s stock valued at $316,000 after acquiring an additional 50,800 shares during the period. King Luther Capital Management Corp raised its holdings in shares of CynergisTek by 11.3% during the first quarter. King Luther Capital Management Corp now owns 197,500 shares of the company’s stock valued at $982,000 after acquiring an additional 20,000 shares during the period. Finally, Globeflex Capital L P raised its holdings in shares of CynergisTek by 18.5% during the first quarter. Globeflex Capital L P now owns 83,282 shares of the company’s stock valued at $414,000 after acquiring an additional 12,982 shares during the period.

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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