IP Group (LON:IPO) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

IP Group Plc (LON:IPO) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 52.68 and traded as high as GBX 61.70. IP Group shares last traded at GBX 61.03, with a volume of 7,464,139 shares.

Analyst Ratings Changes

Separately, Berenberg Bank restated a “buy” rating and set a GBX 100 price target on shares of IP Group in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 100.

IP Group Trading Up 0.7%

The company has a current ratio of 9.28, a quick ratio of 8.59 and a debt-to-equity ratio of 13.99. The business’s fifty day simple moving average is GBX 56.51 and its two-hundred day simple moving average is GBX 52.68. The stock has a market capitalization of £544.61 million, a P/E ratio of -4.29 and a beta of 1.36.

IP Group (LON:IPO) last issued its quarterly earnings results on Wednesday, September 17th. The company reported GBX (4.55) earnings per share for the quarter. IP Group had a net margin of 106.78% and a negative return on equity of 19.85%. As a group, analysts forecast that IP Group Plc will post 19.6245031 earnings per share for the current year.

About IP Group

IP Group accelerates the impact of science for a better future. As the most active UK based, early-stage science investor, we develop and support some of the world’s most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK’s largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions.