Calnex Solutions (LON:CLX) Shares Down 1.6% – Here’s What Happened

Shares of Calnex Solutions plc (LON:CLX) dropped 1.6% during trading on Friday . The stock traded as low as GBX 54.13 and last traded at GBX 54.13. Approximately 207,412 shares were traded during mid-day trading, a decline of 8% from the average daily volume of 224,633 shares. The stock had previously closed at GBX 55.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reissued a “buy” rating and set a GBX 115 target price on shares of Calnex Solutions in a report on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Calnex Solutions has an average rating of “Buy” and a consensus price target of GBX 115.

Calnex Solutions Trading Down 1.6%

The company has a current ratio of 4.15, a quick ratio of 3.22 and a debt-to-equity ratio of 1.52. The company has a 50-day simple moving average of GBX 46.72 and a 200 day simple moving average of GBX 52.07. The firm has a market cap of £47.63 million, a PE ratio of 78.44 and a beta of 1.86.

Calnex Solutions (LON:CLX) last posted its earnings results on Tuesday, November 18th. The company reported GBX (0.80) earnings per share (EPS) for the quarter. Calnex Solutions had a net margin of 0.25% and a return on equity of 0.15%. As a group, sell-side analysts forecast that Calnex Solutions plc will post 0.3596909 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Helen Kelisky acquired 20,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was acquired at an average price of GBX 48 per share, for a total transaction of £9,600. Insiders own 23.62% of the company’s stock.

Calnex Solutions Company Profile

Calnex Solutions designs, produces and markets test and measurement instrumentation and solutions for the telecoms, cloud computing and defence industries. Calnex’s portfolio enables R&D, pre-deployment and in-service testing for network technologies and networked applications, enabling its customers to validate the performance of the critical infrastructure associated with telecoms and cloud computing networks and the applications that run on it.

To date, Calnex has secured and delivered orders in 68 countries across the world.