Calnex Solutions (LON:CLX) Shares Up 7.3% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lifted their target price on shares of Calnex Solutions from GBX 115 to GBX 125 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 125.

Calnex Solutions Trading Down 1.5%

The firm has a 50-day moving average of GBX 68.21 and a 200 day moving average of GBX 56.34. The company has a market cap of £54.21 million, a P/E ratio of 76.94 and a beta of 1.08. The company has a current ratio of 2.80, a quick ratio of 3.22 and a debt-to-equity ratio of 3.43.

Calnex Solutions (LON:CLX) last issued its earnings results on Tuesday, May 26th. The company reported GBX 0.83 earnings per share 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 during the quarter. On average, analysts predict that Calnex Solutions plc will post 0.3596909 earnings per share for the current fiscal year.

Insider Buying and Selling at Calnex Solutions

In related news, insider Graeme Bissett acquired 28,610 shares of the stock in a transaction dated Friday, May 29th. The stock was bought at an average price of £699 per share, for a total transaction of £19,998,390. 23.63% of the stock is owned by corporate insiders.

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.