Royal Bank of Canada Has Lowered Expectations for Zynex (NASDAQ:ZYXI) Stock Price

Zynex (NASDAQ:ZYXI) had its price target reduced by Royal Bank of Canada from $5.00 to $4.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 99.00% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. LADENBURG THALM/SH SH cut shares of Zynex from a “buy” rating to a “neutral” rating in a report on Wednesday, March 12th. HC Wainwright reduced their price objective on shares of Zynex from $15.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday.

Zynex Trading Up 21.1 %

Shares of ZYXI stock opened at $2.01 on Wednesday. The company has a 50-day moving average of $3.46 and a two-hundred day moving average of $6.51. The firm has a market cap of $60.76 million, a PE ratio of 13.40 and a beta of 1.09. Zynex has a 1-year low of $1.66 and a 1-year high of $11.97. The company has a debt-to-equity ratio of 1.66, a current ratio of 3.94 and a quick ratio of 3.15.

Zynex (NASDAQ:ZYXI) last posted its earnings results on Monday, April 28th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.09). The firm had revenue of $26.58 million for the quarter, compared to analyst estimates of $30.83 million. Zynex had a return on equity of 13.05% and a net margin of 2.49%. On average, analysts predict that Zynex will post 0.2 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Daniel J. Moorhead sold 10,000 shares of Zynex stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $7.15, for a total value of $71,500.00. Following the sale, the chief financial officer now owns 10,050 shares of the company’s stock, valued at $71,857.50. The trade was a 49.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 49.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Zynex

A number of institutional investors and hedge funds have recently made changes to their positions in ZYXI. R Squared Ltd acquired a new position in shares of Zynex during the 4th quarter worth approximately $26,000. Tower Research Capital LLC TRC increased its position in Zynex by 138.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,398 shares of the company’s stock worth $27,000 after buying an additional 1,975 shares in the last quarter. Alhambra Investment Management LLC acquired a new position in shares of Zynex in the first quarter worth $30,000. Investment Partners Asset Management Inc. lifted its position in shares of Zynex by 10.4% in the fourth quarter. Investment Partners Asset Management Inc. now owns 12,942 shares of the company’s stock valued at $104,000 after acquiring an additional 1,220 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Zynex during the fourth quarter valued at $117,000. 29.68% of the stock is owned by institutional investors and hedge funds.

Zynex Company Profile

Zynex, Inc, together with 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 and electric stimulation technology device; InWave, an electrical stimulation product for the treatment of female urinary incontinence; E-Wave, an NMES device; M-Wave, an NMES device.