Shares of Zynex Inc. (OTCMKTS:ZYXI) shot up 12.3% on Thursday . The stock traded as high as $22.25 and last traded at $23.87, 2,794,165 shares were traded during mid-day trading. An increase of 392% from the average session volume of 568,115 shares. The stock had previously closed at $21.26.
Several research firms have recently weighed in on ZYXI. Northland Securities reiterated a “buy” rating and issued a $21.00 price objective on shares of Zynex in a research note on Tuesday, May 19th. B. Riley boosted their target price on Zynex from $18.50 to $25.50 and gave the stock a “buy” rating in a report on Friday, May 29th. Zacks Investment Research raised Zynex from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Tuesday, March 31st. Finally, HC Wainwright downgraded Zynex from a “buy” rating to a “neutral” rating and set a $20.00 target price on the stock. in a report on Tuesday, May 19th.
The stock has a 50 day moving average price of $18.41 and a two-hundred day moving average price of $12.41. The company has a market cap of $788.33 million, a price-to-earnings ratio of 114.36 and a beta of 1.05.
Zynex (OTCMKTS:ZYXI) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. Zynex had a return on equity of 152.81% and a net margin of 33.33%. The company had revenue of $15.23 million for the quarter, compared to the consensus estimate of $15.07 million. Research analysts predict that Zynex Inc. will post 0.28 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. bought a new position in Zynex during the 1st quarter worth about $617,000. AQR Capital Management LLC increased its holdings in Zynex by 61.2% during the 1st quarter. AQR Capital Management LLC now owns 79,254 shares of the company’s stock worth $877,000 after purchasing an additional 30,079 shares in the last quarter. Invesco Ltd. increased its holdings in Zynex by 258.8% during the 1st quarter. Invesco Ltd. now owns 67,937 shares of the company’s stock worth $752,000 after purchasing an additional 49,002 shares in the last quarter. Soleus Capital Management L.P. bought a new position in Zynex during the 1st quarter worth about $3,859,000. Finally, Wells Fargo & Company MN increased its holdings in Zynex by 18.7% during the 1st quarter. Wells Fargo & Company MN now owns 82,600 shares of the company’s stock worth $914,000 after purchasing an additional 13,000 shares in the last quarter. Institutional investors and hedge funds own 0.05% of the company’s stock.
About Zynex (OTCMKTS:ZYXI)
Zynex, Inc, a medical technology company, designs, manufactures, and markets electrotherapy medical devices used for pain management and rehabilitation. Its products include NexWave, a dual channel, multi-modality interferential current, transcutaneous electrical nerve stimulation, and neuromuscular electrical stimulation device; NeuroMove, an electromyography triggered electrical stimulation device; and InWave, an electrical stimulation product for the treatment of female urinary incontinence.
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