Zynex Target of Unusually High Options Trading (NASDAQ:ZYXI)

Zynex, Inc. (NASDAQ:ZYXI – Get Rating) was the target of some unusual options trading on Tuesday. Traders purchased 9,007 put options on the company. This represents an increase of 9,585% compared to the average daily volume of 93 put options.

Zynex Stock Performance

NASDAQ:ZYXI opened at $9.66 on Thursday. The firm has a market capitalization of $361.77 million, a PE ratio of 20.55 and a beta of 0.65. The business’s fifty day moving average price is $13.92 and its 200 day moving average price is $12.10. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.41 and a quick ratio of 2.68. Zynex has a 12 month low of $4.97 and a 12 month high of $17.25.

Zynex (NASDAQ:ZYXI – Get Rating) last issued its quarterly earnings data on Monday, March 6th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. Zynex had a return on equity of 26.05% and a net margin of 12.35%. On average, sell-side analysts anticipate that Zynex will post 0.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Piper Sandler upgraded Zynex from a “neutral” rating to an “overweight” rating and upped their price target for the company from $10.00 to $18.00 in a research report on Friday, January 6th.

Hedge Funds Weigh In On Zynex

Several hedge funds have recently made changes to their positions in ZYXI. Alliancebernstein L.P. boosted its stake in shares of Zynex by 7.4% during the fourth quarter. Alliancebernstein L.P. now owns 31,006 shares of the company’s stock worth $431,000 after buying an additional 2,138 shares during the period. Altshuler Shaham Ltd increased its holdings in Zynex by 49.4% in the fourth quarter. Altshuler Shaham Ltd now owns 4,347 shares of the company’s stock valued at $60,000 after buying an additional 1,438 shares in the last quarter. State of Tennessee Treasury Department increased its stake in shares of Zynex by 23.6% during the 4th quarter. State of Tennessee Treasury Department now owns 22,017 shares of the company’s stock worth $307,000 after purchasing an additional 4,208 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Zynex by 171.9% during the 4th quarter. Jane Street Group LLC now owns 27,817 shares of the company’s stock worth $387,000 after purchasing an additional 17,585 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Zynex by 222.1% during the 4th quarter. Millennium Management LLC now owns 138,666 shares of the company’s stock worth $1,929,000 after purchasing an additional 95,617 shares in the last quarter. Hedge funds and other institutional investors own 28.64% of the company’s stock.

About Zynex

(Get Rating)

Zynex, Inc engages in the design, manufacture, and marketing of medical devices. It sells electrotherapy medical devices used for pain management and rehabilitation. The company also develops a new blood volume monitor for use in hospitals and surgery centers. The company was founded by Thomas Sandgaard in 1996 and is headquartered in Englewood, CO.