Zynex (NASDAQ:ZYXI) Stock Rating Lowered by HC Wainwright

Zynex (NASDAQ:ZYXI) was downgraded by analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a report released on Friday, Marketbeat Ratings reports.

Separately, Royal Bank Of Canada lowered their price objective on Zynex from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 15th.

Zynex Price Performance

Shares of NASDAQ ZYXI opened at $1.26 on Friday. The firm has a market cap of $38.10 million, a P/E ratio of -1.34 and a beta of 0.91. The business’s 50 day moving average is $2.34 and its 200-day moving average is $3.78. 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 1-year low of $1.23 and a 1-year high of $9.42.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in Zynex by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 443,020 shares of the company’s stock worth $3,549,000 after buying an additional 17,511 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Zynex by 195.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 440,177 shares of the company’s stock valued at $1,136,000 after acquiring an additional 291,134 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Zynex by 118.2% during the 1st 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 in the last quarter. Renaissance Technologies LLC raised its stake in Zynex by 2.8% in the fourth quarter. Renaissance Technologies LLC now owns 137,362 shares of the company’s stock valued at $1,100,000 after purchasing an additional 3,800 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Zynex by 2.1% during the fourth quarter. Ameriprise Financial Inc. now owns 96,813 shares of the company’s stock worth $775,000 after purchasing an additional 1,993 shares during the period. 29.68% of the stock is owned by institutional investors.

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.