Zynex (NASDAQ:ZYXI) Earns Buy Rating from HC Wainwright

Zynex (NASDAQ:ZYXI)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They presently have a $8.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 200.75% from the company’s current price.

Several other research analysts have also weighed in on the company. Royal Bank Of Canada dropped their price target on Zynex from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 30th. LADENBURG THALM/SH SH lowered Zynex from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 12th.

Zynex Stock Up 3.1%

Shares of Zynex stock opened at $2.66 on Monday. The stock’s fifty day moving average is $2.28 and its 200-day moving average is $4.69. The firm has a market capitalization of $80.44 million, a PE ratio of -11.08 and a beta of 0.83. The company has a quick ratio of 2.63, a current ratio of 3.46 and a debt-to-equity ratio of 2.87. Zynex has a 12-month low of $1.66 and a 12-month high of $10.62.

Zynex (NASDAQ:ZYXI) last posted its quarterly earnings results on Monday, April 28th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.09). The business had revenue of $26.58 million for the quarter, compared to analyst estimates of $30.83 million. Zynex had a negative net margin of 4.30% and a negative return on equity of 23.70%. Equities analysts anticipate that Zynex will post 0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ZYXI. Goldman Sachs Group Inc. increased its position in Zynex by 118.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 170,718 shares of the company’s stock worth $376,000 after purchasing an additional 92,463 shares during the last quarter. Nuveen LLC acquired a new position in Zynex in the 1st quarter worth about $110,000. Jane Street Group LLC increased its position in Zynex by 239.9% in the 1st quarter. Jane Street Group LLC now owns 53,377 shares of the company’s stock worth $117,000 after purchasing an additional 37,673 shares during the last quarter. Lido Advisors LLC acquired a new position in Zynex in the 4th quarter worth about $240,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Zynex in the 4th quarter worth about $211,000. 29.68% of the stock is owned by institutional investors and hedge funds.

Zynex Company Profile

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.