Fonix Mobile (LON:FNX) Shares Up 1.8% – Should You Buy?

Fonix Mobile plc (LON:FNX)’s stock price was up 1.8% during trading on Friday . The stock traded as high as GBX 172 and last traded at GBX 171.51. 65,374 shares traded hands during trading, a decline of 63% from the average daily volume of 178,012 shares. The stock had previously closed at GBX 168.50.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a GBX 293 price target on shares of Fonix Mobile in a report on Thursday, July 23rd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Fonix Mobile currently has a consensus rating of “Buy” and an average price target of GBX 293.

Fonix Mobile Stock Up 1.8%

The firm has a 50 day moving average of GBX 166.55 and a 200-day moving average of GBX 161.44. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.12 and a quick ratio of 1.16. The stock has a market capitalization of £167.44 million, a P/E ratio of 15.31 and a beta of 0.57.

Fonix Mobile announced that its Board of Directors has authorized a stock buyback program on Friday, May 22nd that permits the company to buyback 1,250,000,000,000 outstanding shares. This buyback authorization permits the company to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

About Fonix Mobile

Founded in 2006, Fonix provides mobile payments and messaging services for clients across media, telecoms, entertainment, enterprise and commerce. Based in London, Fonix is a fast growth business driven ITV, Bauer Media, BT, Global Radio, Comic Relief and Children in Need to name a few.