Calnex Solutions (LON:CLX) Trading Up 12.8% – Here’s What Happened

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

Analysts Set New Price Targets

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

Calnex Solutions Stock Performance

The company has a debt-to-equity ratio of 1.52, a quick ratio of 3.22 and a current ratio of 4.15. The stock’s 50 day moving average price is GBX 51.09 and its 200 day moving average price is GBX 57.95. The company has a market capitalization of £44.43 million, a P/E ratio of 1,106.20 and a beta of 1.86.

Insider Activity at Calnex Solutions

In other Calnex Solutions news, insider Helen Kelisky acquired 20,202 shares of the stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of GBX 50 ($0.66) per share, with a total value of £10,101 ($13,369.95). 25.23% of the stock is owned by company insiders.

Calnex Solutions Company Profile

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.