Zynex (NASDAQ:ZYXI) Downgraded to "Neutral" Rating by HC Wainwright

Key Points

• Zynex's rating has been downgraded from "buy" to "neutral" by HC Wainwright, reflecting a shift in analyst sentiment.
• Royal Bank of Canada has reduced its price target for Zynex shares from $4.00 to $3.00, now assigning a "sector perform" rating.
• Zynex's stock has decreased by 10.4%, currently trading at $2.23, and reported a negative earnings per share for the last quarter, missing consensus estimates.

Zynex (NASDAQ:ZYXI - Get Free Report) was downgraded by analysts at HC Wainwright from a "buy" rating to a "neutral" rating in a report released on Friday, Marketbeat Ratings reports.

Separately, Royal Bank Of Canada decreased their price target on Zynex from $4.00 to $3.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 15th.

Zynex Price Performance

ZYXI stock opened at $1.26 on Friday. The stock has a market capitalization of $38.10 million, a price-to-earnings ratio of -1.34 and a beta of 0.91. The company has a quick ratio of 2.63, a current ratio of 3.46 and a debt-to-equity ratio of 2.87. Zynex has a 52-week low of $1.23 and a 52-week high of $9.42. The stock's fifty day simple moving average is $2.34 and its 200-day simple moving average is $3.80.

Hedge Funds Weigh In On Zynex

A number of large investors have recently bought and sold shares of ZYXI. Y Intercept Hong Kong Ltd purchased a new stake in shares of Zynex during the 2nd quarter valued at $36,000. Janney Montgomery Scott LLC grew its position in Zynex by 195.3% during the second quarter. Janney Montgomery Scott LLC now owns 440,177 shares of the company's stock valued at $1,136,000 after acquiring an additional 291,134 shares during the period. Goldman Sachs Group Inc. increased its stake in Zynex by 118.2% during the first quarter. Goldman Sachs Group Inc. now owns 170,718 shares of the company's stock worth $376,000 after acquiring an additional 92,463 shares during the last quarter. Jane Street Group LLC increased its stake in Zynex by 239.9% during the first quarter. Jane Street Group LLC now owns 53,377 shares of the company's stock worth $117,000 after acquiring an additional 37,673 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of Zynex in the 1st quarter worth about $53,000. Hedge funds and other institutional investors own 29.68% of the company's stock.

Zynex Company Profile

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.