Iofina (LON:IOF) Stock Passes Above 200 Day Moving Average – Here’s Why

Iofina plc (LON:IOF) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 42.24 and traded as high as GBX 51. Iofina shares last traded at GBX 50, with a volume of 389,711 shares traded.

Wall Street Analyst Weigh In

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

Iofina Stock Up 2.5%

The firm has a market cap of £98.33 million, a PE ratio of 12.81 and a beta of 0.88. The company has a 50-day simple moving average of GBX 53.99 and a 200-day simple moving average of GBX 42.30. The company has a debt-to-equity ratio of 11.96, a current ratio of 2.64 and a quick ratio of 1.56.

Insider Activity

In related news, insider Tim Hughes purchased 20,003 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were purchased at an average cost 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.