IG Design Group (LON:IGR) Shares Down 57.9% – Here’s What Happened

IG Design Group plc (LON:IGR) shares were down 57.9% on Friday . The stock traded as low as GBX 57 ($0.69) and last traded at GBX 60 ($0.73). Approximately 6,660,522 shares traded hands during mid-day trading, an increase of 810% from the average daily volume of 731,720 shares. The stock had previously closed at GBX 142.50 ($1.73).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lowered their target price on shares of IG Design Group from GBX 325 ($3.95) to GBX 270 ($3.29) and set a “buy” rating for the company in a research note on Thursday, September 26th.

IG Design Group Trading Down 58.2 %

The company has a market capitalization of £56.79 million, a price-to-earnings ratio of 212.86 and a beta of 1.08. The company has a quick ratio of 0.85, a current ratio of 1.88 and a debt-to-equity ratio of 35.04. The company’s 50 day simple moving average is GBX 132.46 and its two-hundred day simple moving average is GBX 159.27.

About IG Design Group

IG Design Group plc, the largest consumer gift packaging business in the world, is a designer, innovator and manufacturer of products that help people celebrate life’s special occasions. Design Group works with more than 11,000 customers in over 80 countries throughout the UK, Europe, Australia and the USA.

Its products are found in over 210,000 retail outlets, including several of the world’s biggest retailers, for example Walmart, Target, Amazon, Costco, Lidl and Aldi.