Calnex Solutions (LON:CLX) Trading 0.9% Higher – Still a Buy?

Calnex Solutions plc (LON:CLX) shot up 0.9% during mid-day trading on Thursday . The company traded as high as GBX 60 and last traded at GBX 59. Approximately 229,948 shares were traded during trading, an increase of 19% from the average daily volume of 193,598 shares. The stock had previously closed at GBX 58.50.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lifted their price objective on Calnex Solutions from GBX 115 to GBX 125 and gave the company a “buy” rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of GBX 125.

Calnex Solutions Trading Up 0.9%

The business’s 50-day moving average is GBX 61.11 and its two-hundred day moving average is GBX 59.56. The company has a current ratio of 2.80, a quick ratio of 3.22 and a debt-to-equity ratio of 3.43. The stock has a market capitalization of £51.96 million, a PE ratio of 73.75 and a beta of 1.05.

Calnex Solutions (LON:CLX) last released its quarterly earnings results on Tuesday, May 26th. The company reported GBX 0.83 earnings per share for the quarter. Calnex Solutions had a return on equity of 2.71% and a net margin of 3.33%.The firm had revenue of GBX 2,188 million during the quarter. On average, analysts predict that Calnex Solutions plc will post 0.3596909 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Graeme Bissett purchased 28,610 shares of the stock in a transaction dated Friday, May 29th. The stock was acquired at an average cost of £699 per share, for a total transaction of £19,998,390. 23.63% of the stock is currently owned by corporate insiders.

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.