Zynex (OTCMKTS:ZYXI) Stock Price Up 0.5% After Analyst Upgrade

Zynex Inc. (OTCMKTS:ZYXI) shares rose 0.5% during mid-day trading on Friday after B. Riley raised their price target on the stock from $9.00 to $10.75. B. Riley currently has a buy rating on the stock. Zynex traded as high as $9.31 and last traded at $9.26, approximately 125,484 shares traded hands during mid-day trading. A decline of 28% from the average daily volume of 174,518 shares. The stock had previously closed at $9.21.

Separately, Zacks Investment Research raised shares of Zynex from a “sell” rating to a “hold” rating in a research note on Thursday, June 27th.

In other Zynex news, CEO Thomas Sandgaard sold 50,000 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $8.88, for a total transaction of $444,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Daniel J. Moorhead sold 25,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $7.17, for a total transaction of $179,250.00. The disclosure for this sale can be found here. Insiders have sold 188,750 shares of company stock worth $1,499,223 over the last three months.

Large investors have recently modified their holdings of the company. WealthTrust Axiom LLC acquired a new stake in shares of Zynex in the first quarter valued at about $132,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Zynex in the first quarter valued at about $118,000. Sigma Planning Corp acquired a new stake in shares of Zynex in the first quarter valued at about $63,000. Finally, Strs Ohio acquired a new stake in shares of Zynex in the second quarter valued at about $37,000. 0.05% of the stock is currently owned by institutional investors.

The company’s 50 day moving average price is $8.95. The company has a market cap of $298.47 million, a price-to-earnings ratio of 41.82 and a beta of 1.05.

Zynex (OTCMKTS:ZYXI) last released its earnings results on Wednesday, July 31st. The company reported $0.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. Zynex had a net margin of 33.33% and a return on equity of 152.81%. The business had revenue of $10.30 million during the quarter, compared to analysts’ expectations of $9.84 million. As a group, sell-side analysts expect that Zynex Inc. will post 0.28 earnings per share for the current fiscal year.

About Zynex (OTCMKTS:ZYXI)

Zynex, Inc, a medical technology company, designs, manufactures, and markets electrotherapy medical devices used for pain management and rehabilitation. Its products include NexWave, a dual channel, multi-modality interferential current, transcutaneous electrical nerve stimulation, and neuromuscular electrical stimulation device; NeuroMove, an electromyography triggered electrical stimulation device; and InWave, an electrical stimulation product for the treatment of female urinary incontinence.

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