Iofina (LON:IOF) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Iofina plc (LON:IOF)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 36.29 and traded as high as GBX 59.88. Iofina shares last traded at GBX 59.88, with a volume of 302,797 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group increased their target price on shares of Iofina from GBX 60 to GBX 65 and gave the company a “buy” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of GBX 65.

Iofina Trading Up 1.0%

The company has a debt-to-equity ratio of 11.96, a quick ratio of 1.56 and a current ratio of 2.64. The firm has a market capitalization of £112.43 million, a P/E ratio of 14.65 and a beta of 0.86. The firm has a 50 day moving average price of GBX 51.41 and a two-hundred day moving average price of GBX 36.52.

Iofina (LON:IOF) last announced its earnings results on Thursday, April 30th. The company reported GBX 4.10 earnings per share (EPS) for the quarter. Iofina had a return on equity of 14.89% and a net margin of 11.84%.The company had revenue of GBX 6,651 million for the quarter. On average, equities research analysts expect that Iofina plc will post 1.8160377 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Tim Hughes acquired 20,003 shares of the business’s stock in a transaction on Monday, June 29th. The shares were purchased at an average price of GBX 50 per share, for a total transaction of £10,001.50. Corporate insiders own 13.44% of the company’s stock.

Iofina Company Profile

Iofina plc is a vertically integrated company that specialises in the production of Iodine and the manufacturing of specialty chemical products and derivatives. Iofina is the second largest producer of iodine in North America and operates the manufacturing entities, Iofina Resources, and Iofina Chemical.