Alps Advisors Inc. Buys Shares of 15,855 Zynex, Inc. (NASDAQ:ZYXI)

Alps Advisors Inc. bought a new stake in Zynex, Inc. (NASDAQ:ZYXIGet Rating) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,855 shares of the company’s stock, valued at approximately $127,000.

A number of other hedge funds also recently modified their holdings of the business. Comerica Bank grew its holdings in shares of Zynex by 10.0% during the first quarter. Comerica Bank now owns 18,741 shares of the company’s stock worth $140,000 after buying an additional 1,703 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in shares of Zynex by 17.7% in the first quarter. Advisor Group Holdings Inc. now owns 90,108 shares of the company’s stock valued at $562,000 after buying an additional 13,539 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Zynex by 93.6% in the first quarter. Janney Montgomery Scott LLC now owns 141,916 shares of the company’s stock valued at $884,000 after buying an additional 68,602 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Zynex by 212.4% in the first quarter. New York State Common Retirement Fund now owns 162,311 shares of the company’s stock valued at $1,011,000 after buying an additional 110,361 shares during the last quarter. Finally, Rice Hall James & Associates LLC lifted its position in shares of Zynex by 13.4% in the first quarter. Rice Hall James & Associates LLC now owns 64,870 shares of the company’s stock valued at $404,000 after buying an additional 7,645 shares during the last quarter. Institutional investors and hedge funds own 29.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ZYXI. B. Riley raised their price objective on Zynex from $11.00 to $12.50 in a research report on Friday, October 28th. HC Wainwright raised their price objective on Zynex from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, October 28th. Finally, Piper Sandler lifted their price target on Zynex from $7.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 28th.

Zynex Stock Performance

NASDAQ:ZYXI opened at $13.84 on Thursday. The stock has a market cap of $518.31 million, a P/E ratio of 29.45 and a beta of 0.77. The stock has a 50 day simple moving average of $10.56 and a 200 day simple moving average of $8.97. The company has a current ratio of 3.41, a quick ratio of 2.68 and a debt-to-equity ratio of 0.10. Zynex, Inc. has a 1-year low of $4.97 and a 1-year high of $14.55.

Insider Buying and Selling

In related news, CFO Daniel J. Moorhead sold 38,126 shares of Zynex stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $10.68, for a total transaction of $407,185.68. Following the completion of the sale, the chief financial officer now directly owns 18,405 shares of the company’s stock, valued at approximately $196,565.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 44.28% of the stock is currently owned by insiders.

Zynex Profile

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Zynex, Inc, through its subsidiaries, designs, manufactures, and markets medical devices to treat chronic and acute pain; and activate and exercise muscles for rehabilitative purposes with electrical stimulation. The company offers NexWave, a dual channel, multi-modality interferential current, transcutaneous electrical nerve stimulation, and neuromuscular electrical stimulation (NMES) device that is marketed to physicians and therapists by field sales representatives; NeuroMove, an electromyography triggered electrical stimulation device; InWave, an electrical stimulation product for the treatment of female urinary incontinence; and E-Wave, an NMES device.

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Institutional Ownership by Quarter for Zynex (NASDAQ:ZYXI)

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