Volex (LON:VLX) Trading Up 8.1% – Here’s Why

Volex plc (LON:VLX)’s stock price was up 8.1% during trading on Thursday . The stock traded as high as GBX 344.50 ($4.73) and last traded at GBX 341 ($4.68). Approximately 2,619,685 shares traded hands during trading, an increase of 317% from the average daily volume of 627,720 shares. The stock had previously closed at GBX 315.50 ($4.33).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reduced their price objective on Volex from GBX 430 ($5.90) to GBX 340 ($4.67) and set a “buy” rating on the stock in a research note on Tuesday, April 8th.

Volex Trading Up 5.1%

The firm’s 50 day simple moving average is GBX 280.51 and its 200-day simple moving average is GBX 273.72. The company has a market capitalization of £902.23 million, a PE ratio of 20.94 and a beta of 1.03. The company has a quick ratio of 1.04, a current ratio of 1.53 and a debt-to-equity ratio of 64.83.

Volex Company Profile

Volex plc (AIM: VLX) is a driving force in integrated manufacturing for mission-critical applications and a global leader in power and data connectivity solutions. Our diverse operations support international blue-chip customers in five key sectors: Electric Vehicles, Consumer Electricals, Medical, Complex Industrial Technology and Off-Highway.