Zynex, Inc. (NASDAQ:ZYXI) Short Interest Update

Zynex, Inc. (NASDAQ:ZYXI) was the recipient of a large drop in short interest in March. As of March 15th, there was short interest totalling 3,830,000 shares, a drop of 13.2% from the February 28th total of 4,410,000 shares. Currently, 20.4% of the shares of the company are short sold. Based on an average daily trading volume, of 201,300 shares, the days-to-cover ratio is presently 19.0 days.

Analyst Ratings Changes

ZYXI has been the subject of several research reports. Royal Bank of Canada downgraded 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, March 12th. HC Wainwright reduced their target price on shares of Zynex from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. Finally, LADENBURG THALM/SH SH cut shares of Zynex from a “buy” rating to a “neutral” rating in a report on Wednesday, March 12th.

Insiders Place Their Bets

In other news, CFO Daniel J. Moorhead sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $7.88, for a total transaction of $78,800.00. Following the completion of the sale, the chief financial officer now directly owns 26,299 shares of the company’s stock, valued at $207,236.12. This trade represents a 27.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 30,000 shares of company stock valued at $227,100 in the last 90 days. 52.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zynex

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC grew its position in shares of Zynex by 24.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 746,380 shares of the company’s stock valued at $6,090,000 after purchasing an additional 147,770 shares in the last quarter. Jane Street Group LLC boosted its stake in Zynex by 8.9% in the 3rd quarter. Jane Street Group LLC now owns 23,530 shares of the company’s stock worth $192,000 after purchasing an additional 1,929 shares during the period. Barclays PLC grew its holdings in Zynex by 43.3% during the 3rd quarter. Barclays PLC now owns 28,821 shares of the company’s stock valued at $236,000 after buying an additional 8,713 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Zynex by 6.7% during the third quarter. Geode Capital Management LLC now owns 425,509 shares of the company’s stock valued at $3,473,000 after buying an additional 26,774 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Zynex by 3.3% during the third quarter. JPMorgan Chase & Co. now owns 40,985 shares of the company’s stock valued at $334,000 after buying an additional 1,318 shares during the period. Institutional investors own 29.68% of the company’s stock.

Zynex Stock Up 12.7 %

Shares of NASDAQ ZYXI opened at $2.48 on Wednesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 3.94 and a quick ratio of 3.15. The stock has a market capitalization of $79.14 million, a PE ratio of 16.53 and a beta of 0.81. Zynex has a one year low of $2.14 and a one year high of $12.84. The business’s fifty day moving average price is $6.13 and its 200-day moving average price is $7.45.

Zynex (NASDAQ:ZYXI) last released its quarterly earnings data on Tuesday, March 11th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.11). The business had revenue of $45.98 million for the quarter, compared to analysts’ expectations of $53.65 million. Zynex had a net margin of 2.49% and a return on equity of 13.05%. During the same period last year, the company earned $0.04 earnings per share. On average, equities research analysts anticipate that Zynex will post 0.2 EPS for the current year.

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.