Calnex Solutions (LON:CLX) Trading 6.1% Higher – Still a Buy?

Calnex Solutions plc (LON:CLX)’s share price shot up 6.1% during mid-day trading on Wednesday . The stock traded as high as GBX 61.35 and last traded at GBX 61. 220,963 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 197,323 shares. The stock had previously closed at GBX 57.50.

Analyst Upgrades and Downgrades

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

Calnex Solutions Price Performance

The firm has a 50-day moving average of GBX 63.66 and a 200-day moving average of GBX 58.01. The stock has a market cap of £55.49 million, a PE ratio of 78.75 and a beta of 1.08. The company has a debt-to-equity ratio of 3.43, a current ratio of 2.80 and a quick ratio of 3.22.

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

Insider Buying and Selling

In related news, insider Graeme Bissett acquired 28,610 shares of the company’s stock in a transaction on Friday, May 29th. The stock was acquired at an average price of £699 per share, with a total value of £19,998,390. 23.63% of the stock is currently owned by insiders.

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.