Zynex stock surges 7% as orders increased by 247%

Zynex Medical (ZYXI.US) stock surged more than 7% during today's session, extending yesterday's gains. A manufacturer of non-invasive medical devices for pain management, stroke rehabilitation, cardiac monitoring and neurological diagnostics yesterday announced that the number of orders in the second quarter increased by 247% y /y. Zynex expects quarterly revenue in the range of $ 31.0 million - $ 32.5 million. Second quarter Adjusted EBITDA is now expected to come in between $4.2 and $5.2 million compared to the previous estimate of between $3.0 and $4.0 million. A full report on Q2 results will be presented at the end of July.

In the announcement, the company pointed to the development of NexWave technology, which is recommended to patients as one of the first solutions to reduce chronic and acute pain without any side effects. The company stressed that the device is a safe alternative to opioids such as morphine.

Zynex Medical (ZYXI.US) stock broke above the 50- and 100-session moving average. On the daily chart, it's worth noting that price remain with the broad wedge formation. Currently, stock is approaching the upper limit of this pattern. Source: xStation5