Calnex Solutions (LON:CLX) Shares Down 11.3% – Here’s Why

Calnex Solutions plc (LON:CLX)’s share price dropped 11.3% on Wednesday . The company traded as low as GBX 66 and last traded at GBX 66.11. Approximately 297,708 shares traded hands during trading, an increase of 30% from the average daily volume of 229,311 shares. The stock had previously closed at GBX 74.50.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group raised their price objective on Calnex Solutions from GBX 115 to GBX 125 and gave the company a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Calnex Solutions currently has a consensus rating of “Buy” and an average price target of GBX 125.

Calnex Solutions Trading Down 10.7%

The stock has a 50-day moving average price of GBX 57.66 and a two-hundred day moving average price of GBX 52.25. The company has a debt-to-equity ratio of 4.06, a current ratio of 4.38 and a quick ratio of 3.22. The stock has a market cap of £58.51 million, a PE ratio of 96.38 and a beta of 1.02.

Calnex Solutions (LON:CLX) last issued its quarterly earnings data 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 2.30% and a net margin of 3.27%. Sell-side analysts forecast that Calnex Solutions plc will post 0.3596909 earnings per share for the current fiscal year.

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.