Calnex Solutions (LON:CLX) Stock Price Up 6.1% – What’s Next?

Calnex Solutions plc (LON:CLX)’s stock price shot up 6.1% during mid-day trading on Wednesday . The stock traded as high as GBX 61.35 and last traded at GBX 61. Approximately 220,963 shares traded hands during mid-day trading, an increase of 12% from the average daily volume of 197,323 shares. The stock had previously closed at GBX 57.50.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group increased their price objective on Calnex Solutions from GBX 115 to GBX 125 and gave the company a “buy” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of GBX 125.

Calnex Solutions Stock Performance

The company has a debt-to-equity ratio of 3.43, a current ratio of 2.80 and a quick ratio of 3.22. The firm has a market cap of £53.73 million, a price-to-earnings ratio of 76.25 and a beta of 1.08. The business’s 50-day moving average price is GBX 63.73 and its two-hundred day moving average price is GBX 57.86.

Calnex Solutions (LON:CLX) last announced its earnings results on Tuesday, May 26th. The company reported GBX 0.83 earnings per share (EPS) for the quarter. The firm had revenue of GBX 2,188 million for the quarter. Calnex Solutions had a net margin of 3.33% and a return on equity of 2.71%. Equities analysts expect that Calnex Solutions plc will post 0.3596909 earnings per share for the current year.

Insider Activity at Calnex Solutions

In other Calnex Solutions news, insider Graeme Bissett acquired 28,610 shares of the stock in a transaction dated Friday, May 29th. The stock was acquired at an average price of £699 per share, with a total value of £19,998,390. 23.63% of the stock is currently 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.