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

Shares of Fonix Mobile plc (LON:FNX) traded up 1.8% on Friday . The company traded as high as GBX 172 and last traded at GBX 171.51. Approximately 65,374 shares were traded 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 restated a “buy” rating and issued a GBX 293 price target on shares of Fonix Mobile in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of GBX 293.

Fonix Mobile Stock Up 1.8%

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

Fonix Mobile announced that its Board of Directors has initiated a stock buyback program on Friday, May 22nd that authorizes the company to buyback 1,250,000,000,000 shares. This buyback authorization authorizes the company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership 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.