Calnex Solutions (LON:CLX) Stock Price Down 11.3% – Should You Sell?

Calnex Solutions plc (LON:CLX)’s stock price traded down 11.3% during trading on Wednesday . The company traded as low as GBX 66 and last traded at GBX 66.11. 297,708 shares changed hands during mid-day trading, an increase of 30% from the average session volume of 229,311 shares. The stock had previously closed at GBX 74.50.

Wall Street Analyst Weigh In

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

Calnex Solutions Stock Up 3.3%

The stock has a market capitalization of £60.91 million, a PE ratio of 100.32 and a beta of 1.02. The firm’s fifty day moving average is GBX 58.31 and its 200-day moving average is GBX 52.36. The company has a quick ratio of 3.22, a current ratio of 2.80 and a debt-to-equity ratio of 3.43.

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

Calnex Solutions Company Profile

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.