Zynex (NASDAQ:ZYXI) Downgraded to Sector Perform Rating by Royal Bank of Canada

Royal Bank of Canada lowered shares of Zynex (NASDAQ:ZYXI - Free Report) from an outperform rating to a sector perform rating in a research report sent to investors on Wednesday morning, MarketBeat.com reports. They currently have $5.50 price target on the stock, down from their prior price target of $11.00.

Several other research firms have also weighed in on ZYXI. HC Wainwright reissued a "buy" rating and set a $17.00 price objective on shares of Zynex in a research note on Friday, December 6th. LADENBURG THALM/SH SH cut Zynex from a "buy" rating to a "neutral" rating in a report on Wednesday.

Zynex Stock Performance

Shares of Zynex stock traded down $0.51 on Wednesday, reaching $2.90. The stock had a trading volume of 1,325,854 shares, compared to its average volume of 132,488. Zynex has a fifty-two week low of $2.78 and a fifty-two week high of $13.19. 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 $92.35 million, a P/E ratio of 19.33 and a beta of 0.81. The business's 50-day moving average price is $7.52 and its two-hundred day moving average price is $7.95.

Zynex (NASDAQ:ZYXI - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.11). The company had revenue of $45.98 million during the quarter, compared to the consensus estimate of $53.65 million. Zynex had a net margin of 2.49% and a return on equity of 13.05%. During the same quarter in the prior year, the company posted $0.04 earnings per share. On average, sell-side analysts forecast that Zynex will post 0.2 EPS for the current year.

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Insider Transactions at Zynex

In other Zynex news, CFO Daniel J. Moorhead sold 10,000 shares of Zynex stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $7.15, for a total transaction of $71,500.00. Following the completion of the sale, the chief financial officer now owns 10,050 shares of the company's stock, valued at $71,857.50. The trade was a 49.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 30,000 shares of company stock worth $227,100. 52.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new position in shares of Zynex during the fourth quarter valued at approximately $26,000. Tower Research Capital LLC TRC increased its position in shares of Zynex by 138.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,398 shares of the company's stock valued at $27,000 after purchasing an additional 1,975 shares during the last quarter. Gladius Capital Management LP increased its holdings in Zynex by 53.4% during the third quarter. Gladius Capital Management LP now owns 5,002 shares of the company's stock valued at $41,000 after buying an additional 1,742 shares during the last quarter. Investment Partners Asset Management Inc. raised its holdings in Zynex by 10.4% in the 4th quarter. Investment Partners Asset Management Inc. now owns 12,942 shares of the company's stock worth $104,000 after purchasing an additional 1,220 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Zynex in the fourth quarter worth about $117,000. 29.68% of the stock is currently owned by 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.