Calnex Solutions (LON:CLX) Shares Down 7.3% – Here’s Why

Calnex Solutions plc (LON:CLX) shares fell 7.3% during mid-day trading on Monday . The company traded as low as GBX 51 and last traded at GBX 51. 26,275 shares changed hands during trading, a decline of 86% from the average session volume of 189,116 shares. The stock had previously closed at GBX 55.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group restated a “buy” rating and issued a GBX 115 price objective on shares of Calnex Solutions in a report on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of GBX 115.

Calnex Solutions Trading Down 7.3%

The stock has a market capitalization of £44.88 million, a P/E ratio of 73.91 and a beta of 1.86. The stock’s 50 day moving average price is GBX 49.78 and its 200-day moving average price is GBX 52.52. The company has a quick ratio of 3.22, a current ratio of 4.38 and a debt-to-equity ratio of 4.06.

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.