Fonix Mobile’s (FNX) Buy Rating Reiterated at Canaccord Genuity Group

Fonix Mobile (LON:FNX)‘s stock had its “buy” rating reissued by research analysts at Canaccord Genuity Group in a research note issued to investors on Thursday,Digital Look reports. They presently have a GBX 293 target price on the stock. Canaccord Genuity Group’s target price points to a potential upside of 68.49% from the stock’s current price.

Fonix Mobile Stock Performance

FNX opened at GBX 173.90 on Thursday. The firm has a market cap of £169.77 million, a PE ratio of 15.53 and a beta of 0.58. The company has a quick ratio of 1.16, a current ratio of 1.12 and a debt-to-equity ratio of 0.77. The business has a fifty day simple moving average of GBX 155.19 and a 200-day simple moving average of GBX 162.86. Fonix Mobile has a fifty-two week low of GBX 143 and a fifty-two week high of GBX 244.

Fonix Mobile announced that its Board of Directors has approved a stock repurchase plan on Friday, May 22nd that authorizes the company to buyback 1,250,000,000,000 shares. This buyback authorization authorizes the company to repurchase up to 1.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Fonix Mobile Company Profile

Founded in 2006, Fonix provides mobile payments and messaging services for clients across media, telecoms, entertainment, enterprise and commerce. Based in London, Fonix is a fast growth business driven ITV, Bauer Media, BT, Global Radio, Comic Relief and Children in Need to name a few.