iomart Group (LON:IOM) Trading Down 16.1% – Here’s What Happened

iomart Group plc (LON:IOM)’s stock price fell 16.1% during trading on Friday . The company traded as low as GBX 24.81 ($0.33) and last traded at GBX 26.50 ($0.35). 1,134,147 shares traded hands during mid-day trading, an increase of 257% from the average session volume of 317,316 shares. The stock had previously closed at GBX 31.60 ($0.42).

Analysts Set New Price Targets

Separately, Shore Capital reissued a “buy” rating on shares of iomart Group in a report on Friday, February 7th.

iomart Group Price Performance

The stock has a market cap of £31.21 million, a P/E ratio of 4.81 and a beta of 0.58. The company has a quick ratio of 1.18, a current ratio of 1.03 and a debt-to-equity ratio of 47.08. The business’s 50-day simple moving average is GBX 34.46 and its two-hundred day simple moving average is GBX 66.32.

iomart Group Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 9th were issued a GBX 1.30 ($0.02) dividend. This represents a dividend yield of 1.38%. The ex-dividend date was Thursday, January 9th. iomart Group’s payout ratio is currently 90.68%.

iomart Group Company Profile

iomart Group plc (AIM: IOM) is one of the UK’s leading provider of secure cloud managed services, simplifying the complexities of modern technology for businesses. Our team of 650+ experts deliver cutting-edge solutions in cloud infrastructure, modern workplace management, and managed security services that enable our customers to innovate, protect, and scale their businesses.

We proudly hold one of the UK’s most extensive sets of Microsoft credentials, including Azure Expert MSP, five Solution Partner Designations, and membership in Microsoft’s Intelligent Security Association (MISA).