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

Calnex Solutions plc (LON:CLX)’s stock price dropped 11.3% during trading on Wednesday . The stock 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 shares of Calnex Solutions from GBX 115 to GBX 125 and gave the stock a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Calnex Solutions presently has an average rating of “Buy” and an average price target of GBX 125.

Calnex Solutions Stock Down 10.7%

The company has a 50-day simple moving average of GBX 57.66 and a 200-day simple moving average of GBX 52.25. The firm has a market cap of £58.51 million, a PE ratio of 96.38 and a beta of 1.02. The company has a debt-to-equity ratio of 4.06, a current ratio of 4.38 and a quick ratio of 3.22.

Calnex Solutions (LON:CLX) last announced its earnings results on Tuesday, May 26th. The company reported GBX 0.83 earnings per share (EPS) for the quarter. Calnex Solutions had a return on equity of 2.30% and a net margin of 3.27%.The business had revenue of GBX 2,188 million during the quarter. Analysts expect 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.