A dark pool trade was detected in ZYXI stock on May 1, 2020. The huge dark pool trade was 88% greater than the average daily volume in the stock.

We think the huge dark pool trade at $16.37, valued at $6 million, was a large block order sell because of how ZYXI stock traded off that $16.37 level.

On April 29, 2020, H.C. Wainwright analyst Yi Chen raised the firm’s price target on Zynex to $20 from $15 and reiterates a Buy rating on the shares following the company’s Q1 results.

On April 28, 2020, Zynex reported Q1 EPS of 9c versus the consensus estimate of 6c. The company reported Q1 revenue of $15.2M versus the consensus estimate of $14.57M.

Thomas Sandgaard, CEO said: “I am excited to announce our fifteenth consecutive quarter of positive net income. In the first quarter, we posted revenue of $15.2 million, which is the highest quarterly revenue in the history of the Company and net income of $2.9 million. Orders grew 126% compared to the first quarter of 2019.

We were able to generate $0.6 million in cash from operations despite increasing our inventory by over $1.0 million. We are focused on ensuring our patients get pain relief from our device quickly and therefore we increased our inventory levels to protect against any supply chain slow-downs due to COVID-19. Our employees have demonstrated remarkable dedication and have been rock solid during this crisis making sure we continue to operate effectively. We can’t thank them enough.

In the first quarter, we continued to focus on the execution of our growth strategy and the related growth of our sales force by adding 32 sales reps in March and 48 in April. We expect the addition of new sales reps to have an impact on order and revenue growth later this year and going forward. In addition, we continue to invest in our infrastructure to support the increase in order volume.

We continue to advocate for pain patients, and for physicians to prescribe our NexWave technology as the first line of defense in treating chronic and acute pain without side effects. We are dedicated to promoting our technology in an effort to remove patient addiction and other side effects from prescription opioids.”

The daily chart of ZYXI stock shows that price go too far above the move average envelope and the McGinley Dynamic. It looks like a reversion to the mean trade is on this stock.