Zynex Inc. (NASDAQ:ZYXI) Sees Large Decrease in Short Interest

Zynex Inc. (NASDAQ:ZYXI) was the recipient of a significant drop in short interest in December. As of December 15th, there was short interest totaling 3,619,011 shares, a drop of 33.8% from the November 30th total of 5,463,368 shares. Based on an average trading volume of 1,493,964 shares, the days-to-cover ratio is currently 2.4 days. Approximately 23.5% of the company’s stock are short sold. Approximately 23.5% of the company’s stock are short sold. Based on an average trading volume of 1,493,964 shares, the days-to-cover ratio is currently 2.4 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Zynex in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.90.

Zynex Price Performance

Shares of ZYXI stock opened at $0.07 on Monday. Zynex has a one year low of $0.12 and a one year high of $8.45. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.47 and a quick ratio of 0.32. The company’s 50-day simple moving average is $0.89 and its two-hundred day simple moving average is $1.52. The company has a market capitalization of $2.07 million, a P/E ratio of -0.03 and a beta of 0.99.

Institutional Investors Weigh In On Zynex

Hedge funds and other institutional investors have recently modified their holdings of the company. Engineers Gate Manager LP acquired a new position in Zynex in the second quarter valued at $32,000. Y Intercept Hong Kong Ltd purchased a new position in Zynex in the second quarter valued at about $36,000. XTX Topco Ltd purchased a new position in Zynex in the 2nd quarter valued at approximately $47,000. Deutsche Bank AG raised its stake in shares of Zynex by 172.8% during the 1st quarter. Deutsche Bank AG now owns 19,796 shares of the company’s stock worth $44,000 after buying an additional 12,540 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Zynex during the first quarter worth about $53,000. 29.68% of the stock is currently owned by institutional investors and hedge funds.

Zynex Company Profile

Zynex, Inc is a medical device company engaged in the design, development, manufacture and sale of non-invasive therapeutic and patient monitoring equipment in the United States. Headquartered in Englewood, Colorado, the company focuses on delivering FDA-cleared solutions aimed at pain management, neurological rehabilitation and remote patient monitoring. Zynex’s portfolio is structured to address the needs of healthcare providers, outpatient clinics and patients receiving care in their homes.

The company’s core product offerings include electrotherapy devices—such as transcutaneous electrical nerve stimulation (TENS) and neuromuscular electrical stimulation (NMES) systems—designed to alleviate pain and assist in muscle recovery.