AlphaQuest LLC Reduces Stock Position in Zynex, Inc. (NASDAQ:ZYXI)

AlphaQuest LLC lowered its holdings in shares of Zynex, Inc. (NASDAQ:ZYXI) by 60.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,784 shares of the company’s stock after selling 18,114 shares during the quarter. AlphaQuest LLC’s holdings in Zynex were worth $94,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Investment Partners Asset Management Inc. raised its position in Zynex by 10.4% during the 4th quarter. Investment Partners Asset Management Inc. now owns 12,942 shares of the company’s stock valued at $104,000 after purchasing an additional 1,220 shares in the last quarter. JPMorgan Chase & Co. raised its position in Zynex by 3.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,985 shares of the company’s stock valued at $334,000 after purchasing an additional 1,318 shares in the last quarter. Jane Street Group LLC raised its position in Zynex by 8.9% during the 3rd quarter. Jane Street Group LLC now owns 23,530 shares of the company’s stock valued at $192,000 after purchasing an additional 1,929 shares in the last quarter. R Squared Ltd bought a new stake in Zynex during the 4th quarter valued at $26,000. Finally, Congress Asset Management Co. raised its position in Zynex by 4.7% during the 4th quarter. Congress Asset Management Co. now owns 121,450 shares of the company’s stock valued at $973,000 after purchasing an additional 5,405 shares in the last quarter. Hedge funds and other institutional investors own 29.68% of the company’s stock.

Zynex Trading Down 9.0 %

ZYXI opened at $2.64 on Wednesday. The firm has a market cap of $84.25 million, a price-to-earnings ratio of 17.60 and a beta of 0.81. The company has a current ratio of 3.94, a quick ratio of 3.15 and a debt-to-equity ratio of 1.66. Zynex, Inc. has a 12 month low of $2.61 and a 12 month high of $13.19. The stock has a fifty day moving average price of $7.21 and a 200-day moving average price of $7.84.

Zynex (NASDAQ:ZYXI) last announced its earnings results on Tuesday, March 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.11). Zynex had a net margin of 2.49% and a return on equity of 13.05%. The business had revenue of $45.98 million for the quarter, compared to analyst estimates of $53.65 million. During the same period in the prior year, the company earned $0.04 earnings per share. As a group, equities research analysts anticipate that Zynex, Inc. will post 0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ZYXI shares. HC Wainwright decreased their target price on Zynex from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Royal Bank of Canada lowered Zynex from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $11.00 to $5.50 in a research report on Wednesday, March 12th. Finally, LADENBURG THALM/SH SH lowered Zynex from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 12th.

Insider Activity at Zynex

In other Zynex news, CFO Daniel J. Moorhead sold 10,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $7.15, for a total transaction of $71,500.00. Following the sale, the chief financial officer now owns 10,050 shares in the company, valued at approximately $71,857.50. The trade was a 49.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 30,000 shares of company stock valued at $227,100 in the last ninety days. Corporate insiders own 52.13% of the company’s stock.

About Zynex

Zynex, Inc, together with its subsidiaries, designs, manufactures, and markets medical devices to treat chronic and acute pain; and activate and exercise muscles for rehabilitative purposes with electrical stimulation. The company offers NexWave, a dual channel, multi-modality interferential current, transcutaneous electrical nerve stimulation, and neuromuscular electrical stimulation (NMES) device that is marketed to physicians and therapists by field sales representatives; NeuroMove, an electromyography and electric stimulation technology device; InWave, an electrical stimulation product for the treatment of female urinary incontinence; E-Wave, an NMES device; M-Wave, an NMES device.