Canaccord Genuity Group restated their buy rating on shares of Fonix Mobile (LON:FNX – Free Report) in a research report report published on Thursday morning,Digital Look reports. The firm currently has a GBX 293 target price on the stock.
Fonix Mobile Trading Up 4.0%
LON:FNX opened at GBX 169 on Thursday. The stock has a market cap of £164.98 million, a price-to-earnings ratio of 15.09 and a beta of 0.58. The company has a quick ratio of 1.16, a current ratio of 1.12 and a debt-to-equity ratio of 0.77. The company’s 50 day moving average price is GBX 155.42 and its 200-day moving average price is GBX 162.82. Fonix Mobile has a 52 week low of GBX 143 and a 52 week high of GBX 244.
Fonix Mobile announced that its Board of Directors has authorized a stock buyback program on Friday, May 22nd that authorizes the company to buyback 1,250,000,000,000 outstanding shares. This buyback authorization authorizes the company to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
About Fonix Mobile
Founded in 2006, Fonix provides mobile payments and messaging services for clients across media, telecoms, entertainment, enterprise and commerce. Based in London, Fonix is a fast growth business driven ITV, Bauer Media, BT, Global Radio, Comic Relief and Children in Need to name a few.
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