Zynex (NASDAQ:ZYXI) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Zynex (NASDAQ:ZYXIFree Report) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $15.00 target price on the stock.

Separately, HC Wainwright reaffirmed a buy rating and set a $21.00 price objective on shares of Zynex in a research report on Wednesday, May 1st.

Get Our Latest Analysis on ZYXI

Zynex Stock Up 1.3 %

Shares of NASDAQ:ZYXI opened at $9.11 on Friday. The firm has a market cap of $289.42 million, a P/E ratio of 39.61 and a beta of 0.61. Zynex has a 12-month low of $6.88 and a 12-month high of $13.77. The business has a fifty day simple moving average of $10.69 and a 200 day simple moving average of $11.21. The company has a quick ratio of 2.87, a current ratio of 3.58 and a debt-to-equity ratio of 1.76.

Hedge Funds Weigh In On Zynex

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Aigen Investment Management LP purchased a new position in Zynex in the third quarter worth $81,000. Tower Research Capital LLC TRC grew its position in Zynex by 358.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,458 shares of the company’s stock valued at $81,000 after buying an additional 5,830 shares during the period. Mainstay Capital Management LLC ADV purchased a new stake in Zynex during the fourth quarter worth about $118,000. State Board of Administration of Florida Retirement System bought a new stake in Zynex in the first quarter worth about $137,000. Finally, Connors Investor Services Inc. boosted its stake in Zynex by 4.3% in the third quarter. Connors Investor Services Inc. now owns 24,250 shares of the company’s stock valued at $194,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 29.68% of the company’s stock.

Zynex Company Profile

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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.

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