NEW YORK, Oct. 17, 2019 /PRNewswire/ -- Spherix Incorporated (Nasdaq: SPEX) today announced that its stock has been upgraded to a "buy" rating from a "hold" rating in a research note issued to investors by ValuEngine Inc. (www.valuengine.com). ValuEngine uses proprietary models to forecast and value individual equities across a diverse set of industries.
Mr. Anthony Hayes, CEO of Spherix stated, "We continue to work towards building value for our shareholders by opportunistically deploying the Company's capital across several undervalued assets where we can utilize our industry knowledge and expertise to unlock meaningful returns."
Spherix Incorporated is a technology development company committed to the fostering of innovative ideas. Spherix Incorporated was formed in 1967 as a scientific research company. Our activities generally include the acquisition and development of technology through internal or external research and development. In addition, we seek to acquire existing rights to intellectual property through the acquisition of already issued patents and pending patent applications, both in the United States and abroad. We may alone, or in conjunction with others, develop products and processes associated with technology development and monetizing related intellectual property.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the SEC, not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.