Calnex Solutions (LON:CLX) Trading 12.8% Higher – Should You Buy?

Calnex Solutions plc (LON:CLX) was up 12.8% during mid-day trading on Tuesday . The company traded as high as GBX 49.70 ($0.66) and last traded at GBX 48.50 ($0.64). Approximately 210,064 shares changed hands during mid-day trading, an increase of 131% from the average daily volume of 90,993 shares. The stock had previously closed at GBX 43 ($0.57).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a GBX 115 ($1.52) target price on shares of Calnex Solutions in a research report on Tuesday, April 8th.

Calnex Solutions Stock Up 12.8 %

The company has a market cap of £43.10 million, a price-to-earnings ratio of 1,073.02 and a beta of 1.86. The business has a 50-day simple moving average of GBX 51.78 and a two-hundred day simple moving average of GBX 58.07. The company has a quick ratio of 3.22, a current ratio of 4.15 and a debt-to-equity ratio of 1.52.

Insiders Place Their Bets

In other Calnex Solutions news, insider Helen Kelisky purchased 20,202 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of GBX 50 ($0.66) per share, for a total transaction of £10,101 ($13,318.83). Company insiders own 25.23% of the company’s stock.

About Calnex Solutions

Calnex Solutions designs, produces and markets test and measurement instrumentation and solutions for the telecommunications and cloud computing 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 telecommunications 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.