Zynex (NASDAQ:ZYXI) Downgraded by Royal Bank of Canada to “Sector Perform”

Zynex (NASDAQ:ZYXI) was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report released on Wednesday,Briefing.com Automated Import reports. They presently have a $5.50 price target on the stock, down from their prior price target of $11.00. Royal Bank of Canada’s target price would indicate a potential downside of 21.43% from the company’s previous close.

ZYXI has been the subject of several other reports. LADENBURG THALM/SH SH downgraded Zynex from a “buy” rating to a “neutral” rating in a research report on Wednesday. HC Wainwright reissued a “buy” rating and set a $17.00 price objective on shares of Zynex in a research note on Friday, December 6th.

Zynex Stock Down 2.4 %

Shares of NASDAQ ZYXI opened at $7.00 on Wednesday. Zynex has a 1 year low of $4.36 and a 1 year high of $13.19. The firm has a market cap of $222.92 million, a price-to-earnings ratio of 46.67 and a beta of 0.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 3.15 and a current ratio of 3.94. The stock’s 50-day simple moving average is $7.72 and its 200-day simple moving average is $8.02.

Zynex (NASDAQ:ZYXI) last announced its quarterly earnings data on Tuesday, March 11th. The company reported ($0.02) earnings per share 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%. During the same period in the prior year, the business earned $0.04 earnings per share. As a group, equities analysts anticipate that Zynex will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Daniel J. Moorhead sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $7.68, for a total value of $76,800.00. Following the sale, the chief financial officer now directly owns 19,738 shares of the company’s stock, valued at approximately $151,587.84. This trade represents a 33.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 30,000 shares of company stock worth $227,100. Corporate insiders own 52.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Zynex in the fourth quarter valued at approximately $26,000. Tower Research Capital LLC TRC raised its stake in shares of Zynex by 138.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,398 shares of the company’s stock valued at $27,000 after acquiring an additional 1,975 shares during the last quarter. Gladius Capital Management LP raised its stake in shares of Zynex by 53.4% in the third quarter. Gladius Capital Management LP now owns 5,002 shares of the company’s stock valued at $41,000 after acquiring an additional 1,742 shares during the last quarter. Investment Partners Asset Management Inc. raised its stake in shares of Zynex by 10.4% in the fourth quarter. Investment Partners Asset Management Inc. now owns 12,942 shares of the company’s stock valued at $104,000 after acquiring an additional 1,220 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Zynex in the 4th quarter worth approximately $117,000. Institutional investors own 29.68% 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.