Zynex Inc. [NASDAQ:ZYXI] has active tape with a current price of $14.43 against an analyst price target of 27.35.
For the year, the stock is trading 150.70% and the five-day change stands at 13.07%. As a point of reference, the S&P 500 is trading 1.11% YTD.
Other data to note about the company today is the Recommendation Trend that is leaning toward Zynex Inc. [ZYXI] as Strong Buy.
The Bears are coming
Holding a Market Cap of $662.93 million, Zynex Inc. has seen a trading range over the last year of $7.51-$29.73.
For the last five days, ZYXI is up from its last closing price. The average shares trading hands each day is 944.68K, with average 10-day volume coming in at 0.51 million.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for ZYXI. When we apply the Elder Force Index to Zynex Inc., we are seeing an Elder Force Indicator number of -12728639.0.
The recent performance of the stock is another area that can tell traders how to proceed. ZYXI is presenting an interesting case. This can be seen in the Forward P/E ratio, which currently stands at 33.73. Moreover, the company’s enterprise value has gone from $816.72M to $354.48M quarter-over-quarter. Obviously, the company is heading in the wrong direction, but there are still opportunities for growth in the sector.
In the last quarter, ZYXI made a profit of 15.2 million. Zynex Inc. also saw quarter revenue growth year over year of 42.47%. In addition, the company has operating cash flow of $7.22 million.
Looking at popular technical indicators, the company’s 5-day moving average is 18.33 compared to the 50-day moving average of 16.49. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. ZYXI currently holds a 9-day RSI of 32.33%, while 100-day RSI stands at 48.77%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. ZYXI’s 9-day MACD is -0.39 and the company’s 100-day MACD stands at -1.73.
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 49.75% by insiders and 19.89% by institutions.
Over the last six months, insiders have bought 2,733 with the most recent transaction from MOORHEAD DANIEL J, Chief Financial Officer, with a purchase at price 18.11 per share.
Overall, the recommended rating for ZYXI is Strong Buy. Currently, the company has 5 analysts watching the stock, and the average quarterly earnings estimate is 0.06. Quarterly revenue estimates are averaging 22.72M with the high estimate reaching 23.3M and the low at 22.25M.
To review, the current 1-year target estimate is sitting at 27.35, while the current price 14.43. Based on this, we expect the stock to rise considering the aforementioned fundamentals.