Zynex (NASDAQ:ZYXI) Stock Price Down 3.9% - Here's What Happened

Zynex, Inc. (NASDAQ:ZYXI - Get Free Report)'s share price dropped 3.9% during mid-day trading on Wednesday . The stock traded as low as $2.40 and last traded at $2.49. Approximately 126,923 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 161,531 shares. The stock had previously closed at $2.59.

Analysts Set New Price Targets

ZYXI has been the subject of several research reports. HC Wainwright lowered their price objective on shares of Zynex from $15.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. LADENBURG THALM/SH SH cut shares of Zynex from a "buy" rating to a "neutral" rating in a research report on Wednesday, March 12th. Finally, Royal Bank of Canada lowered their price target on shares of Zynex from $5.00 to $4.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 30th.

Zynex Stock Performance

The company has a debt-to-equity ratio of 1.66, a quick ratio of 3.15 and a current ratio of 3.94. The stock has a market cap of $61.08 million, a P/E ratio of 13.47 and a beta of 0.70. The firm's 50 day moving average is $2.24 and its 200 day moving average is $5.52.

Zynex (NASDAQ:ZYXI - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.05% and a net margin of 2.49%. Analysts anticipate that Zynex, Inc. will post 0.2 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Jane Street Group LLC raised its stake in shares of Zynex by 239.9% during the 1st 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 in the last quarter. Goldman Sachs Group Inc. increased its stake in Zynex by 118.2% during 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 in the last quarter. Hsbc Holdings PLC acquired a new position in Zynex during the 1st quarter valued at approximately $53,000. Nuveen LLC acquired a new position in Zynex during the 1st quarter valued at approximately $110,000. Finally, Virtu Financial LLC acquired a new position in Zynex during the 1st quarter valued at approximately $39,000. 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.