Calnex Solutions (LON:CLX) Trading Up 3.4% – Here’s What Happened

Calnex Solutions plc (LON:CLX)’s share price traded up 3.4% during trading on Thursday . The company traded as high as GBX 46 and last traded at GBX 46. 434,307 shares changed hands during mid-day trading, an increase of 58% from the average session volume of 275,481 shares. The stock had previously closed at GBX 44.50.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reissued a “buy” rating and set a GBX 115 target price on shares of Calnex Solutions in a research note on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of GBX 115.

Calnex Solutions Trading Up 3.4%

The business’s 50-day simple moving average is GBX 45.30 and its 200-day simple moving average is GBX 51.73. The company has a market cap of £40.48 million, a PE ratio of 66.67 and a beta of 1.86. The company has a current ratio of 4.15, a quick ratio of 3.22 and a debt-to-equity ratio of 1.52.

Calnex Solutions (LON:CLX) last posted its quarterly earnings results on Tuesday, November 18th. The company reported GBX (0.80) earnings per share for the quarter. Calnex Solutions had a return on equity of 0.15% and a net margin of 0.25%. As a group, analysts expect that Calnex Solutions plc will post 0.3596909 EPS for the current fiscal year.

Insider Buying and Selling at Calnex Solutions

In other news, insider Helen Kelisky purchased 20,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was bought at an average cost of GBX 48 per share, with a total value of £9,600. 23.62% of the stock is owned by company insiders.

Calnex Solutions Company Profile

Calnex Solutions designs, produces and markets test and measurement instrumentation and solutions for the telecoms, cloud computing and defence industries. Calnex’s portfolio enables R&D, pre-deployment and in-service testing for network technologies and networked applications, enabling its customers to validate the performance of the critical infrastructure associated with telecoms and cloud computing networks and the applications that run on it.

To date, Calnex has secured and delivered orders in 68 countries across the world.