Zynex (NASDAQ:ZYXI) Stock Price Down 9% – What’s Next?

Zynex Inc. (NASDAQ:ZYXI)’s stock price was down 9% during trading on Monday . The company traded as low as $0.78 and last traded at $0.8099. Approximately 777,543 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 14,701,467 shares. The stock had previously closed at $0.89.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Zynex in a research report on Monday, December 1st. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.90.

Zynex Trading Down 9.0%

The company has a quick ratio of 0.32, a current ratio of 0.47 and a debt-to-equity ratio of 0.56. The business’s fifty day moving average is $1.16 and its 200 day moving average is $1.70. The stock has a market cap of $24.61 million, a PE ratio of -0.33 and a beta of 0.99.

Institutional Investors Weigh In On Zynex

A number of institutional investors and hedge funds have recently modified their holdings of the company. Engineers Gate Manager LP purchased a new position in Zynex in the 2nd quarter valued at approximately $32,000. Y Intercept Hong Kong Ltd acquired a new stake in Zynex in the second quarter valued at $36,000. Virtu Financial LLC acquired a new stake in Zynex in the first quarter valued at $39,000. Deutsche Bank AG increased its position in shares of Zynex by 172.8% in the first quarter. Deutsche Bank AG now owns 19,796 shares of the company’s stock valued at $44,000 after buying an additional 12,540 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Zynex during the 2nd quarter worth $47,000. Institutional investors and hedge funds own 29.68% of the company’s stock.

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.