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

Calnex Solutions plc (LON:CLX)’s share price dropped 1.3% on Friday . The stock traded as low as GBX 51.33 ($0.69) and last traded at GBX 51.35 ($0.69). Approximately 137,557 shares were traded during mid-day trading, an increase of 54% from the average daily volume of 89,509 shares. The stock had previously closed at GBX 52 ($0.70).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a GBX 115 price target on shares of Calnex Solutions in a research note on Wednesday, May 21st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of GBX 115.

Calnex Solutions Stock Performance

The firm’s fifty day moving average price is GBX 49.48 and its 200 day moving average price is GBX 50.18. 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 £45.13 million, a price-to-earnings ratio of 14,263.89 and a beta of 1.86.

About Calnex Solutions

Calnex Solutions designs, produces and markets test and measurement instrumentation and solutions for the telecoms 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 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.