Royal Bank Of Canada Issues Pessimistic Forecast for Zynex (NASDAQ:ZYXI) Stock Price

Zynex (NASDAQ:ZYXI - Get Free Report) had its target price reduced by equities researchers at Royal Bank Of Canada from $4.00 to $3.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price indicates a potential upside of 27.66% from the company's previous close.

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

Zynex Price Performance

Shares of NASDAQ:ZYXI traded up $0.08 during midday trading on Tuesday, hitting $2.35. The company's stock had a trading volume of 85,768 shares, compared to its average volume of 175,142. The business's 50 day simple moving average is $2.33 and its 200 day simple moving average is $4.23. The company has a debt-to-equity ratio of 2.87, a quick ratio of 2.63 and a current ratio of 3.46. The company has a market cap of $71.06 million, a P/E ratio of -9.79 and a beta of 0.83. Zynex has a 12-month low of $1.66 and a 12-month high of $10.62.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ZYXI. Janney Montgomery Scott LLC raised 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 purchasing an additional 291,134 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Zynex by 118.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 170,718 shares of the company's stock valued at $376,000 after purchasing an additional 92,463 shares during the last quarter. Nuveen LLC purchased a new stake in Zynex in the 1st quarter valued at $110,000. Jane Street Group LLC raised its position in Zynex by 239.9% in the 1st quarter. Jane Street Group LLC now owns 53,377 shares of the company's stock valued at $117,000 after purchasing an additional 37,673 shares during the last quarter. Finally, Lido Advisors LLC purchased a new stake in Zynex in the 4th quarter valued at $240,000. Institutional investors and hedge funds 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.