Zynex (NASDAQ:ZYXI) Upgraded to "Buy" at LADENBURG THALM/SH SH

Key Points

• Zynex has been upgraded from a "neutral" to a "buy" rating by LADENBURG THALM/SH SH, with a target price of $3.70, indicating a potential upside of 65.92% from its previous close.
• Other analysts have mixed views, with HC Wainwright downgrading Zynex to "neutral" and Royal Bank of Canada reducing its price target from $4.00 to $3.00.
• The stock opened at $2.23 and has fluctuated between a 52-week low of $1.66 and a high of $9.42.

Zynex (NASDAQ:ZYXI - Get Free Report) was upgraded by LADENBURG THALM/SH SH from a "neutral" rating to a "buy" rating in a research note issued on Friday, MarketBeat.com reports. The firm currently has a $3.70 price target on the stock. LADENBURG THALM/SH SH's target price points to a potential upside of 135.52% from the stock's previous close.

A number of other equities research analysts have also recently weighed in on the company. HC Wainwright cut Zynex from a "buy" rating to a "neutral" rating in a research note on Friday. Royal Bank Of Canada decreased their price objective on Zynex from $4.00 to $3.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 15th.

Zynex Stock Down 8.9%

Shares of ZYXI traded down $0.15 during midday trading on Friday, reaching $1.57. 594,748 shares of the stock were exchanged, compared to its average volume of 267,399. The company has a current ratio of 0.62, a quick ratio of 0.45 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $47.60 million, a P/E ratio of -1.67 and a beta of 0.91. Zynex has a 52 week low of $1.23 and a 52 week high of $9.42. The company's 50 day moving average is $2.33 and its two-hundred day moving average is $3.71.

Institutional Investors Weigh In On Zynex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZYXI. American Century Companies Inc. raised its stake in Zynex by 4.4% in the fourth quarter. American Century Companies Inc. now owns 35,696 shares of the company's stock valued at $286,000 after buying an additional 1,516 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Zynex in the fourth quarter valued at about $211,000. JPMorgan Chase & Co. increased its holdings in shares of Zynex by 4.9% in the fourth quarter. JPMorgan Chase & Co. now owns 42,997 shares of the company's stock valued at $344,000 after purchasing an additional 2,012 shares during the period. Geode Capital Management LLC increased its holdings in shares of Zynex by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 443,020 shares of the company's stock valued at $3,549,000 after purchasing an additional 17,511 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Zynex by 2.8% in the fourth quarter. Renaissance Technologies LLC now owns 137,362 shares of the company's stock valued at $1,100,000 after purchasing an additional 3,800 shares during the period. 29.68% of the stock is currently owned by hedge funds and other 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.