Fonix Mobile’s (FNX) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Fonix Mobile (LON:FNX) in a research note released on Thursday,Digital Look reports. They currently have a GBX 293 target price on the stock.

Fonix Mobile Trading Up 0.2%

Shares of FNX stock opened at GBX 169.30 on Thursday. The company has a market capitalization of £165.28 million, a P/E ratio of 15.12 and a beta of 0.58. The company has a current ratio of 1.12, a quick ratio of 1.16 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average is GBX 155.63 and its two-hundred day moving average is GBX 162.86. Fonix Mobile has a twelve month low of GBX 143 and a twelve month high of GBX 244.

Fonix Mobile announced that its Board of Directors has authorized a stock buyback plan on Friday, May 22nd that permits the company to repurchase 1,250,000,000,000 outstanding shares. This repurchase authorization permits the company to buy up to 1.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Fonix Mobile

Founded in 2006, Fonix provides mobile payments and messaging services for clients across media, telecoms, entertainment, enterprise and commerce. Based in London, Fonix is a fast growth business driven ITV, Bauer Media, BT, Global Radio, Comic Relief and Children in Need to name a few.