Calnex Solutions (LON:CLX) Stock Price Down 1% – Here’s What Happened

Calnex Solutions plc (LON:CLX) shares dropped 1% during mid-day trading on Thursday . The company traded as low as GBX 59 and last traded at GBX 59.41. 206,031 shares changed hands during mid-day trading, an increase of 10% from the average daily volume of 187,806 shares. The stock had previously closed at GBX 60.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group increased their target price on shares of Calnex Solutions from GBX 115 to GBX 125 and gave the company a “buy” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Calnex Solutions presently has an average rating of “Buy” and a consensus target price of GBX 125.

Calnex Solutions Stock Performance

The stock has a market cap of £52.33 million, a P/E ratio of 74.27 and a beta of 1.05. The business has a 50 day moving average price of GBX 59.83 and a 200 day moving average price of GBX 60.12. The company has a quick ratio of 3.22, a current ratio of 2.80 and a debt-to-equity ratio of 3.43.

About Calnex Solutions

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.