HC Wainwright Issues Pessimistic Forecast for Zynex (NASDAQ:ZYXI) Stock Price

Zynex (NASDAQ:ZYXI) had its price target lowered by equities research analysts at HC Wainwright from $17.00 to $15.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 417.24% from the stock’s current price.

Several other research firms have also recently commented on ZYXI. LADENBURG THALM/SH SH cut shares of Zynex from a “buy” rating to a “neutral” rating in a report on Wednesday. Royal Bank of Canada cut shares of Zynex from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $11.00 to $5.50 in a report on Wednesday.

Zynex Trading Down 15.0 %

Zynex stock opened at $2.90 on Wednesday. The company’s fifty day simple moving average is $7.52 and its 200-day simple moving average is $7.95. The company has a quick ratio of 3.15, a current ratio of 3.94 and a debt-to-equity ratio of 1.66. Zynex has a 12 month low of $2.77 and a 12 month high of $13.19. The stock has a market cap of $92.35 million, a P/E ratio of 19.33 and a beta of 0.81.

Zynex (NASDAQ:ZYXI) last posted its quarterly earnings results on Tuesday, March 11th. The company reported ($0.02) 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 company had revenue of $45.98 million for the quarter, compared to analysts’ expectations of $53.65 million. During the same quarter in the prior year, the firm earned $0.04 earnings per share. As a group, sell-side analysts forecast that Zynex will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling

In other Zynex news, CFO Daniel J. Moorhead sold 10,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $7.68, for a total transaction of $76,800.00. Following the completion of the sale, the chief financial officer now directly owns 19,738 shares in the company, valued at $151,587.84. This represents a 33.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders sold 30,000 shares of company stock worth $227,100. Corporate insiders own 52.13% of the company’s stock.

Institutional Investors Weigh In On Zynex

Hedge funds have recently bought and sold shares of the company. R Squared Ltd bought a new stake in Zynex during the fourth quarter valued at about $26,000. Tower Research Capital LLC TRC lifted 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 buying an additional 1,975 shares during the period. Gladius Capital Management LP lifted 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 buying an additional 1,742 shares during the period. Investment Partners Asset Management Inc. lifted 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 buying an additional 1,220 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Zynex in the fourth quarter valued at about $117,000. 29.68% of the stock is currently owned by institutional investors.

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.