ZYXI stock has experienced nearly 22% of price gain in recent 7-days, and 24% in 1 month. Zynex Inc (NASDAQ: ZYXI) is known for designing, manufacturing, and marketing of medical devices. The company has a market cap of $526.00 Million, according to Tradingview. In March, when the company reported its Q4 2022 results the stock price soared nearly 15%. Similarly, Zynex has reported its Q1 results and once again the stock is showing a bullish trend.
It must be noted that Zynex Inc, the manufacturer of medical devices, reported its Q1 2023 results on April 27th. According to which, its EPS for this quarter are $0.04 whereas the estimation was $0.01 which accounts for 200.01% surprise. The estimated earnings or EPS for Q2 2023 are $0.05.
Zynex Inc has reported its revenue for Q 2021 $42.17 Million despite the estimated figure of $39.60 Million. Additionally, the revenue breakdown overview suggests that its revenue for the last year amounted to $158.17 Million. The most of which, nearly $114.67 Million came from its highest performing source at the moment, Related Supplies, the year earlier bringing $93.69 Million.
Most of the contribution to the revenue figure was made by North America. As in the last year the country brought Zynex Inc $158.17 Million, and the year before that — $130.30 Million.
The figures show that the company has reported quite impressive Q1 2023 results while looking for promising growth in the future.
ZYXI Stock Price Analysis
According to the data sourced from Tradingview, ZYXI stock showed a bullish outlook yesterday, May 2nd. The high volume of active bulls in the market brought the stock price upside. In yesterday’s trading session, ZYXI stock closed at $14.35. However, the 52-week high of this stock was at $17.25 while the low was at $5.84.
As shown in the above chart, ZYXI stock price has surpassed its 200-day EMA while. The RSI also shows that the stock is in the overbought zone. Thus, the stock price is experiencing a bullish trend with the high-dominance of active bulls in the market.
The analysts have set their 1 year price forecasts for Zynex having a maximum estimate of $28.00 and a min estimate of $18.00. The price target for ZYXI stock is at $22.00, that is 50% more than its recent closing price.
From the beginning of this year, the stock took bullish price gain then started sliding in its share price. But, after recent performance it can be said that the stock has once again taken a bullish way to follow.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/05/03/zyxi-stock-showed-bullish-outlook-after-its-q1-2023-report/