Zynex, Inc. (NASDAQ:ZYXI) Short Interest Update

Zynex, Inc. (NASDAQ:ZYXI) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 3,830,000 shares, a drop of 13.2% from the February 28th total of 4,410,000 shares. Based on an average trading volume of 201,300 shares, the days-to-cover ratio is currently 19.0 days. Approximately 20.4% of the shares of the stock are short sold.

Analyst Ratings Changes

Several analysts recently weighed in on ZYXI shares. Royal Bank of Canada cut shares of Zynex from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $11.00 to $5.50 in a research note on Wednesday, March 12th. HC Wainwright reduced their price target on Zynex from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Finally, LADENBURG THALM/SH SH downgraded Zynex from a “buy” rating to a “neutral” rating in a research report on Wednesday, March 12th.

Zynex Price Performance

ZYXI stock opened at $2.44 on Thursday. The company has a quick ratio of 3.15, a current ratio of 3.94 and a debt-to-equity ratio of 1.66. The firm has a market cap of $77.87 million, a price-to-earnings ratio of 16.27 and a beta of 0.81. The company’s fifty day simple moving average is $6.02 and its 200 day simple moving average is $7.42. Zynex has a 12-month low of $2.14 and a 12-month high of $12.84.

Zynex (NASDAQ:ZYXI) last announced its quarterly earnings data on Tuesday, March 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.11). Zynex had a net margin of 2.49% and a return on equity of 13.05%. The business had revenue of $45.98 million during the quarter, compared to analyst estimates of $53.65 million. During the same period in the prior year, the firm earned $0.04 earnings per share. On average, analysts expect that Zynex will post 0.2 earnings per share for the current year.

Insider Activity at Zynex

In related news, CFO Daniel J. Moorhead sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $7.15, for a total value of $71,500.00. Following the completion of the transaction, the chief financial officer now owns 10,050 shares in the company, valued at $71,857.50. This trade represents a 49.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 52.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ZYXI. Hotchkis & Wiley Capital Management LLC increased its position in Zynex by 24.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 746,380 shares of the company’s stock valued at $6,090,000 after buying an additional 147,770 shares in the last quarter. Lido Advisors LLC acquired a new stake in Zynex in the fourth quarter valued at approximately $240,000. Geode Capital Management LLC raised its position in shares of Zynex by 6.7% during the third quarter. Geode Capital Management LLC now owns 425,509 shares of the company’s stock worth $3,473,000 after purchasing an additional 26,774 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Zynex in the 4th quarter worth $211,000. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Zynex by 10.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 159,259 shares of the company’s stock worth $1,276,000 after purchasing an additional 14,820 shares in the last quarter. 29.68% of the stock is owned by institutional investors.

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.