Canaccord Genuity Group Reiterates Buy Rating for Calnex Solutions (LON:CLX)

Calnex Solutions (LON:CLX)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity Group in a research report issued on Tuesday,Digital Look reports. They currently have a GBX 115 ($1.46) price objective on the stock. Canaccord Genuity Group’s target price points to a potential upside of 163.28% from the stock’s previous close.

Calnex Solutions Price Performance

LON:CLX traded up GBX 2.18 ($0.03) on Tuesday, hitting GBX 43.68 ($0.56). The company had a trading volume of 291,660 shares, compared to its average volume of 84,533. Calnex Solutions has a 52 week low of GBX 39.25 ($0.50) and a 52 week high of GBX 73 ($0.93). The company has a current ratio of 4.15, a quick ratio of 3.22 and a debt-to-equity ratio of 1.52. The stock has a market capitalization of £38.82 million, a price-to-earnings ratio of 966.38 and a beta of 1.86. The firm has a 50 day moving average of GBX 55.06 and a two-hundred day moving average of GBX 58.53.

Insider Buying and Selling at Calnex Solutions

In related news, insider Helen Kelisky purchased 20,202 shares of Calnex Solutions stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of GBX 50 ($0.64) per share, for a total transaction of £10,101 ($12,857.69). Corporate insiders own 25.23% of the company’s stock.

Calnex Solutions Company Profile

Calnex Solutions designs, produces and markets test and measurement instrumentation and solutions for the telecommunications and cloud computing 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 telecommunications 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.