Volex (LON:VLX) Trading Up 23.6% – Here’s Why

Volex plc (LON:VLX) shot up 23.6% during mid-day trading on Thursday . The stock traded as high as GBX 390 ($5.33) and last traded at GBX 390 ($5.33). 4,735,987 shares traded hands during mid-day trading, an increase of 634% from the average session volume of 645,067 shares. The stock had previously closed at GBX 315.50 ($4.31).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group decreased their price objective on shares of Volex from GBX 430 ($5.88) to GBX 340 ($4.65) and set a “buy” rating for the company in a research note on Tuesday, April 8th.

Volex Stock Up 19.3%

The stock has a market capitalization of £873.24 million, a PE ratio of 20.27 and a beta of 1.03. The firm’s fifty day moving average is GBX 274.61 and its 200-day moving average is GBX 272.35. The company has a quick ratio of 1.04, a current ratio of 1.53 and a debt-to-equity ratio of 64.83.

About Volex

Volex plc (AIM: VLX) is a driving force in integrated manufacturing for mission-critical applications and a global leader in power and data connectivity solutions. Our diverse operations support international blue-chip customers in five key sectors: Electric Vehicles, Consumer Electricals, Medical, Complex Industrial Technology and Off-Highway.