Itaconix (LON:ITX) Stock Price Down 8.9% – Here’s What Happened

Shares of Itaconix plc (LON:ITX) were down 8.9% during trading on Tuesday . The company traded as low as GBX 148 and last traded at GBX 153. Approximately 250,552 shares changed hands during trading, an increase of 1,156% from the average session volume of 19,942 shares. The stock had previously closed at GBX 168.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group increased their price target on shares of Itaconix from GBX 325 to GBX 375 and gave the stock a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of GBX 375.

Itaconix Stock Down 8.9%

The company’s fifty day moving average price is GBX 112.09 and its 200-day moving average price is GBX 112.57. The stock has a market capitalization of £20.63 million, a PE ratio of -15.00 and a beta of 0.97. The company has a quick ratio of 0.52, a current ratio of 3.43 and a debt-to-equity ratio of 24.58.

Insiders Place Their Bets

In related news, insider Peter Nieuwenhuizen acquired 3,400 shares of Itaconix stock in a transaction that occurred on Tuesday, May 5th. The stock was bought at an average price of GBX 109 per share, with a total value of £3,706. 77.49% of the stock is currently owned by company insiders.

About Itaconix

Itaconix uses its proprietary plant-based polymer technology platform to produce and sell specialty ingredients that improve the safety, performance, and sustainability of consumer products. The Company’s current ingredients are enabling and leading new generations of products in detergents, hygiene, and hair care. Itaconix’s contributions to the global low carbon economy are recognised by the London Stock Exchange’s Green Economy Mark.