Fonix Mobile (LON:FNX) Stock Price Up 4.4% - Here's Why

Key Points

• Shares rose 4.4% to GBX 164.50 (intraday high GBX 165) on Wednesday, with ~120,554 shares traded — about 45% below the stock's average daily volume.
• Canaccord Genuity reissued a "Buy" rating and set a GBX 293 price target, matching the MarketBeat consensus target of GBX 293.
• Insiders increased holdings earlier this year (Edward Spurrier bought 30,000 shares at GBX 177; Carmel Warren bought 11,235 at GBX 178), and insiders now own 26.73% of the company.

Fonix Mobile plc (LON:FNX - Get Free Report)'s share price rose 4.4% during trading on Wednesday . The stock traded as high as GBX 165 and last traded at GBX 164.50. Approximately 120,554 shares were traded during trading, a decline of 45% from the average daily volume of 219,724 shares. The stock had previously closed at GBX 157.50.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reissued a "buy" rating and set a GBX 293 price target on shares of Fonix Mobile in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of GBX 293.

Fonix Mobile Stock Performance

The stock has a 50-day simple moving average of GBX 163.93 and a 200-day simple moving average of GBX 178.18. The company has a market capitalization of £162.65 million, a price-to-earnings ratio of 14.69 and a beta of 0.51. The company has a current ratio of 1.12, a quick ratio of 1.16 and a debt-to-equity ratio of 0.77.

Fonix Mobile (LON:FNX - Get Free Report) last announced its earnings results on Tuesday, March 17th. The company reported GBX 6.20 earnings per share (EPS) for the quarter. Fonix Mobile had a return on equity of 104.64% and a net margin of 14.66%. On average, analysts anticipate that Fonix Mobile plc will post 10.9108622 earnings per share for the current year.

Insider Buying and Selling

In other Fonix Mobile news, insider Edward Spurrier bought 30,000 shares of the business's stock in a transaction on Thursday, January 22nd. The shares were bought at an average cost of GBX 177 per share, with a total value of £53,100. Also, insider Carmel Warren bought 11,235 shares of the business's stock in a transaction on Thursday, January 22nd. The stock was acquired at an average cost of GBX 178 per share, for a total transaction of £19,998.30. Corporate insiders own 26.73% of the company's stock.

About Fonix Mobile

Founded in 2006, Fonix provides mobile payments and messaging services for clients across media, telecoms, entertainment, enterprise and commerce. Based in London, Fonix is a fast growth business driven ITV, Bauer Media, BT, Global Radio, Comic Relief and Children in Need to name a few.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.