Zynex, Inc. CFO Daniel J. Moorhead Sells 10,000 Shares

Zynex, Inc. (NASDAQ:ZYXI) recently saw its Chief Financial Officer, Daniel J. Moorhead, sell 10,000 shares of the company’s stock in a transaction that occurred on November 1st. The shares were sold at an average price of $8.59 each, amounting to a total of $85,900. Following this sale, Moorhead retains ownership of 44,878 shares in Zynex, which are valued at approximately $385,502. This sale does not significantly alter his ownership percentage within the company, indicating a stable investment position.

Zynex Price Performance

During mid-day trading on Monday, ZYXI stock was down by $0.76, bringing its price to $8.00. The trading volume reached 110,670 shares, which is lower than the average of 172,064 shares. Zynex's financial ratios indicate a current ratio of 3.94, a quick ratio of 3.15, and a debt-to-equity ratio of 1.66. The 50-day moving average for the stock stands at $8.11, while the 200-day moving average is $9.04. Over the past year, Zynex's stock has fluctuated within a range, hitting a low of $7.15 and a high of $13.77. The company holds a market capitalization of $254.77 million, a PE ratio of 54.07, and a beta of 0.53.

On October 24th, Zynex reported its quarterly earnings, announcing an earnings per share (EPS) of $0.07, surpassing the expected EPS of $0.06. The company generated revenues totaling $49.97 million, which fell slightly short of analysts' projections of $50.83 million. Despite this, Zynex showcased a year-over-year revenue increase of 0.1%. Last year, in the same quarter, the company reported an EPS of $0.10. Analysts project that Zynex, Inc. will achieve an EPS of $0.20 for the current fiscal year.

Institutional Inflows and Outflows

Recent changes among institutional investors and hedge funds have impacted their holdings in Zynex. Notably, Millennium Management LLC raised its stake in the company by 66.5% during the second quarter, obtaining 297,082 shares worth approximately $2,769,000 after acquiring an additional 118,615 shares. Similarly, Renaissance Technologies LLC increased its holdings by 68.7%, owning 189,762 shares valued at $1,769,000 after purchasing an additional 77,300 shares. Other notable increases include LSV Asset Management with a 45.1% uptick, owning 108,935 shares, and Janney Montgomery Scott LLC with a 22.3% increase to hold 144,439 shares. Overall, institutional investors and hedge funds collectively own 29.68% of Zynex’s stock.

Wall Street Analysts Forecast Growth

Equities analysts have expressed positive views on Zynex. HC Wainwright recently raised their target price for Zynex from $16.00 to $17.00 and maintained a “buy” rating. Meanwhile, Royal Bank of Canada lowered its price target from $12.00 to $11.00 while still designating an “outperform” rating for the stock. These analysts' assessments reflect the potential for future growth for Zynex, even amidst current market fluctuations.

Zynex Company Overview

Zynex, Inc. focuses on designing, manufacturing, and marketing medical devices for the treatment of chronic and acute pain and muscle rehabilitation through electrical stimulation. Their products include devices such as NexWave, NeuroMove, InWave, E-Wave, and M-Wave, which cater to diverse therapeutic needs and are sold to healthcare professionals.

Zynex, CFO, Stocks