Calnex Solutions (LON:CLX) Trading Up 7.3% – Here’s Why

Calnex Solutions plc (LON:CLX) shares were up 7.3% on Tuesday . The stock traded as high as GBX 65 and last traded at GBX 63.29. 206,529 shares traded hands during mid-day trading, a decline of 0% from the average session volume of 207,188 shares. The stock had previously closed at GBX 59.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group increased their target price on shares of Calnex Solutions from GBX 115 to GBX 125 and gave the stock 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, Calnex Solutions has an average rating of “Buy” and an average target price of GBX 125.

Calnex Solutions Stock Up 7.3%

The company has a market cap of £55.74 million, a P/E ratio of 79.11 and a beta of 1.08. 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 business’s 50 day moving average price is GBX 68.44 and its 200-day moving average price is GBX 56.23.

Calnex Solutions (LON:CLX) last released its quarterly earnings results on Tuesday, May 26th. The company reported GBX 0.83 EPS for the quarter. Calnex Solutions had a return on equity of 2.71% and a net margin of 3.33%.The business had revenue of GBX 2,188 million for the quarter. On average, analysts anticipate that Calnex Solutions plc will post 0.3596909 earnings per share for the current fiscal year.

Insider Transactions at Calnex Solutions

In other Calnex Solutions news, insider Graeme Bissett acquired 28,610 shares of Calnex Solutions stock in a transaction on Friday, May 29th. The shares were bought at an average price of £699 per share, with a total value of £19,998,390. Insiders own 23.63% 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.