Iofina (LON:IOF) Stock Breaks Above 50 Day Moving Average – What’s Next?

Iofina plc (LON:IOF) shares passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of GBX 52.32 and traded as high as GBX 54. Iofina shares last traded at GBX 54, with a volume of 202,361 shares changing hands.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 70 price objective on shares of Iofina in a report on Friday, October 16th. One investment analyst has rated the stock with a Buy rating. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of GBX 70.

Iofina Price Performance

The company has a quick ratio of 1.56, a current ratio of 2.57 and a debt-to-equity ratio of 10.80. The company’s 50 day moving average is GBX 52.32 and its 200 day moving average is GBX 42.62. The firm has a market capitalization of £102.16 million, a price-to-earnings ratio of 11.83 and a beta of 0.96.

Iofina (LON:IOF) last released its quarterly earnings results on Monday, September 21st. The company reported GBX 1.80 EPS for the quarter. Iofina had a net margin of 12.91% and a return on equity of 15.30%. On average, equities research analysts anticipate that Iofina plc will post 1.82 earnings per share for the current fiscal year.

About Iofina

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.