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

Zynex (NASDAQ:ZYXI) had its target price lowered by analysts at Royal Bank Of Canada from $4.00 to $3.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 32.16% from the stock’s previous close.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price on shares of Zynex in a report on Monday, June 30th.

Zynex Trading Down 0.4%

ZYXI opened at $2.27 on Tuesday. The stock has a market capitalization of $68.64 million, a P/E ratio of -9.46 and a beta of 0.83. The company has a current ratio of 3.46, a quick ratio of 2.63 and a debt-to-equity ratio of 2.87. Zynex has a 12 month low of $1.66 and a 12 month high of $10.62. The firm’s fifty day simple moving average is $2.32 and its 200 day simple moving average is $4.27.

Zynex (NASDAQ:ZYXI) last posted its quarterly earnings data on Monday, April 28th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.09). Zynex had a negative net margin of 4.30% and a negative return on equity of 23.70%. The business had revenue of $26.58 million during the quarter, compared to analyst estimates of $30.83 million. As a group, research analysts anticipate that Zynex will post 0.2 EPS for the current fiscal year.

Institutional Trading of Zynex

Several large investors have recently modified their holdings of ZYXI. Goldman Sachs Group Inc. lifted its stake in Zynex by 118.2% during the first quarter. Goldman Sachs Group Inc. now owns 170,718 shares of the company’s stock worth $376,000 after purchasing an additional 92,463 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Zynex by 239.9% during the 1st quarter. Jane Street Group LLC now owns 53,377 shares of the company’s stock worth $117,000 after buying an additional 37,673 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Zynex during the 1st quarter worth $53,000. Nuveen LLC acquired a new stake in Zynex in the first quarter valued at about $110,000. Finally, Virtu Financial LLC acquired a new stake in Zynex in the first quarter valued at about $39,000. 29.68% of the stock is owned by institutional investors and hedge funds.

About Zynex

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.