HC Wainwright Reaffirms "Buy" Rating for Zynex (NASDAQ:ZYXI)

Zynex (NASDAQ:ZYXI - Get Free Report)'s stock had its "buy" rating reissued by research analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They presently have a $8.00 price target on the stock. HC Wainwright's target price indicates a potential upside of 240.43% from the stock's current price.

Several other research firms have also recently weighed in on ZYXI. Royal Bank Of Canada dropped their price objective 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. LADENBURG THALM/SH SH downgraded Zynex from a "buy" rating to a "neutral" rating in a research report on Wednesday, March 12th.

Zynex Stock Performance

NASDAQ:ZYXI traded down $0.34 during midday trading on Monday, reaching $2.35. The stock had a trading volume of 243,216 shares, compared to its average volume of 174,162. The stock has a market capitalization of $71.06 million, a P/E ratio of -9.79 and a beta of 0.83. Zynex has a 1-year low of $1.66 and a 1-year high of $10.62. The firm's fifty day simple moving average is $2.29 and its 200-day simple moving average is $4.68. The company has a debt-to-equity ratio of 2.87, a current ratio of 3.46 and a quick ratio of 2.63.

Zynex (NASDAQ:ZYXI - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 4.30% and a negative return on equity of 23.70%. On average, equities research analysts forecast that Zynex will post 0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its holdings in shares of Zynex by 118.2% in the first 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. Jane Street Group LLC raised its holdings 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 acquiring an additional 37,673 shares during the period. Hsbc Holdings PLC acquired a new stake in Zynex during the first quarter worth approximately $53,000. Nuveen LLC bought a new stake in shares of Zynex during the first quarter worth approximately $110,000. Finally, Virtu Financial LLC acquired a new position in shares of Zynex in the first quarter valued at approximately $39,000. Institutional investors and hedge funds 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.