Iofina (LON:IOF) Trading Up 12.3% – Here’s Why

Shares of Iofina plc (LON:IOF) shot up 12.3% during mid-day trading on Thursday . The company traded as high as GBX 37 and last traded at GBX 36.50. 927,856 shares were traded during mid-day trading, an increase of 62% from the average session volume of 574,184 shares. The stock had previously closed at GBX 32.50.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 45 price target on shares of Iofina in a research note on Wednesday, April 15th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 45.

Iofina Trading Up 16.8%

The stock has a market cap of £72.81 million, a PE ratio of 15.18 and a beta of 0.53. The stock has a 50-day moving average price of GBX 26.84 and a two-hundred day moving average price of GBX 25.21. The company has a debt-to-equity ratio of 14.85, a current ratio of 2.43 and a quick ratio of 1.56.

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.