Fonix Mobile (LON:FNX) Shares Up 1.8% – Time to Buy?

Fonix Mobile plc (LON:FNX)’s stock price rose 1.8% on Friday . The stock traded as high as GBX 172 and last traded at GBX 171.51. Approximately 65,374 shares traded hands during trading, a decline of 63% from the average daily volume of 178,012 shares. The stock had previously closed at GBX 168.50.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a GBX 293 price objective on shares of Fonix Mobile in a report on Thursday, July 23rd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Fonix Mobile presently has an average rating of “Buy” and an average price target of GBX 293.

Fonix Mobile Stock Performance

The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.16 and a current ratio of 1.12. The stock’s fifty day moving average price is GBX 166.55 and its 200-day moving average price is GBX 161.44. The company has a market capitalization of £167.44 million, a P/E ratio of 15.31 and a beta of 0.57.

Fonix Mobile declared that its board has approved a share repurchase program on Friday, May 22nd that allows the company to buyback 1,250,000,000,000 shares. This buyback authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Fonix Mobile Company Profile

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.