Calnex Solutions (LON:CLX) Stock Price Down 1.3% – Here’s Why

Calnex Solutions plc (LON:CLX) fell 1.3% during mid-day trading on Thursday . The stock traded as low as GBX 45 and last traded at GBX 45.40. 51,529 shares were traded during mid-day trading, a decline of 17% from the average session volume of 61,816 shares. The stock had previously closed at GBX 46.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 115 price objective on shares of Calnex Solutions in a research report on Wednesday, November 19th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of GBX 115.

Calnex Solutions Trading Down 1.3%

The company has a market cap of £39.95 million, a price-to-earnings ratio of 65.80 and a beta of 1.86. The company has a debt-to-equity ratio of 1.52, a quick ratio of 3.22 and a current ratio of 4.15. The business’s 50 day moving average price is GBX 49.24 and its 200-day moving average price is GBX 52.18.

Calnex Solutions (LON:CLX) last issued its earnings results on Tuesday, November 18th. The company reported GBX (0.80) earnings per share for the quarter. Calnex Solutions had a net margin of 0.25% and a return on equity of 0.15%. On average, research analysts forecast that Calnex Solutions plc will post 0.3596909 EPS for the current year.

Insiders Place Their Bets

In other news, insider Helen Kelisky bought 20,000 shares of the stock in a transaction dated Tuesday, November 25th. The shares were acquired at an average price of GBX 48 per share, with a total value of £9,600. Insiders own 23.62% of the company’s stock.

About Calnex Solutions

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.