In a report released today, Marc Wiesenberger from B.Riley FBR maintained a Buy rating on Zynex Inc (ZYXI), with a price target of $9. The company’s shares closed yesterday at $8.15.
Wiesenberger commented:
“Buy-rated Zynex, Inc. (ZYXI, $9 PT) will report 2Q results after market close on Wednesday, 7/31, and hold a conference call at 4:15pm ET (Dial-in: Both the company and its stock have had an eventful 2Q. Zynex was added to the Russell 2000 index at the end of June, and the company filed a Form S-3 in which founder and CEO Thomas Sandgaard registered his holdings for potential sale, paving the way for increased institutional ownership (despite many retail investors believing the CEO had disposed of his entire 52% ownership position). In 2Q (4/1-6/28) shares were up ~150% at one point and traded as high as $11.75, but subsequently retraced about 25% of the move (shares were down ~20% on news of the Form S-3 filing) to end just below $9, but finishing 2Q up ~93% (v. Russell 2000 up ~1%).”
Wiesenberger has an average return of 93.1% when recommending Zynex Inc.
According to TipRanks.com, Wiesenberger is ranked #945 out of 5258 analysts.
Zynex Inc has an analyst consensus of Moderate Buy, with a price target consensus of $9.
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The company has a one-year high of $11.75 and a one-year low of $2.34. Currently, Zynex Inc has an average volume of 328K.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock.
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Zynex, Inc. engages in the design, manufacture, and marketing of medical devices. It sells electrotherapy medical devices used for pain management and rehabilitation. The company also develops a new blood volume monitor for use in hospitals and surgery centers. Zynex was founded by Thomas Sandgaard in 1996 and is headquartered in Englewood, CO.
