Calnex Solutions (LON:CLX) Shares Up 0.9% – Here’s Why

Calnex Solutions plc (LON:CLX) shot up 0.9% during trading on Thursday . The stock traded as high as GBX 60 and last traded at GBX 59. Approximately 229,948 shares changed hands during mid-day trading, an increase of 19% from the average session volume of 193,598 shares. The stock had previously closed at GBX 58.50.

Analysts Set New Price Targets

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

Calnex Solutions Price Performance

The company has a current ratio of 2.80, a quick ratio of 3.22 and a debt-to-equity ratio of 3.43. The business’s fifty day moving average is GBX 61.11 and its 200 day moving average is GBX 59.56. The firm has a market capitalization of £51.96 million, a P/E ratio of 73.75 and a beta of 1.05.

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

Insider Transactions at Calnex Solutions

In other Calnex Solutions news, insider Graeme Bissett purchased 28,610 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of £699 per share, with a total value of £19,998,390. 23.63% of the stock is currently owned by company 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.