Royal Bank Of Canada Has Lowered Expectations for Zynex (NASDAQ:ZYXI) Stock Price

Zynex (NASDAQ:ZYXI - Get Free Report) had its price objective dropped by equities researchers at Royal Bank Of Canada from $4.00 to $3.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 29.87% from the stock's previous close.

Separately, HC Wainwright reiterated a "buy" rating and issued a $8.00 target price on shares of Zynex in a research report on Monday, June 30th.

Zynex Trading Down 1.7%

Zynex stock traded down $0.04 during trading hours on Tuesday, reaching $2.31. 70,109 shares of the company's stock were exchanged, compared to its average volume of 174,723. The company has a quick ratio of 2.63, a current ratio of 3.46 and a debt-to-equity ratio of 2.87. The firm's 50 day simple moving average is $2.33 and its 200 day simple moving average is $4.23. The firm has a market capitalization of $69.85 million, a PE ratio of -9.62 and a beta of 0.83. Zynex has a twelve month low of $1.66 and a twelve month high of $10.62.

Zynex (NASDAQ:ZYXI - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.09). The firm had revenue of $26.58 million for the quarter, compared to the consensus estimate of $30.83 million. Zynex had a negative return on equity of 23.70% and a negative net margin of 4.30%. Research analysts predict that Zynex will post 0.2 earnings per share for the current year.

Hedge Funds Weigh In On Zynex

Several hedge funds have recently added to or reduced their stakes in ZYXI. Janney Montgomery Scott LLC boosted its position in Zynex by 195.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 440,177 shares of the company's stock valued at $1,136,000 after buying an additional 291,134 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Zynex by 118.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 170,718 shares of the company's stock worth $376,000 after purchasing an additional 92,463 shares during the period. Nuveen LLC purchased a new stake in shares of Zynex in the 1st quarter worth approximately $110,000. Jane Street Group LLC lifted its position in shares of Zynex by 239.9% in the 1st quarter. Jane Street Group LLC now owns 53,377 shares of the company's stock worth $117,000 after purchasing an additional 37,673 shares during the period. Finally, Lido Advisors LLC purchased a new stake in shares of Zynex in the 4th quarter worth approximately $240,000. 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.