Calnex Solutions (LON:CLX) Stock Price Down 1.4% – Time to Sell?

Calnex Solutions plc (LON:CLX) was down 1.4% during trading on Monday . The stock traded as low as GBX 68 and last traded at GBX 68. 52,327 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 222,214 shares. The stock had previously closed at GBX 69.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lifted their price objective on shares of Calnex Solutions from GBX 115 to GBX 125 and gave the company a “buy” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of GBX 125.

Calnex Solutions Price Performance

The company’s 50-day moving average price is GBX 65.50 and its two-hundred day moving average price is GBX 54.17. The company has a debt-to-equity ratio of 3.43, a current ratio of 2.80 and a quick ratio of 3.22. The company has a market capitalization of £59.89 million, a P/E ratio of 85.00 and a beta of 1.08.

Calnex Solutions (LON:CLX) last announced its quarterly earnings results on Tuesday, May 26th. The company reported GBX 0.83 EPS for the quarter. The business had revenue of GBX 2,188 million for the quarter. Calnex Solutions had a net margin of 3.33% and a return on equity of 2.71%. As a group, sell-side analysts expect that Calnex Solutions plc will post 0.3596909 EPS for the current year.

Insider Transactions at Calnex Solutions

In other news, insider Graeme Bissett purchased 28,610 shares of Calnex Solutions stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average cost of £699 per share, for a total transaction of £19,998,390. 23.66% of the stock is owned by company insiders.

About Calnex Solutions

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.