Volex (LON:VLX) Trading Up 13.3% – Here’s What Happened

Shares of Volex plc (LON:VLX) were up 13.3% on Wednesday . The company traded as high as GBX 434.50 and last traded at GBX 422. Approximately 16,990,293 shares traded hands during trading, an increase of 2,510% from the average daily volume of 650,925 shares. The stock had previously closed at GBX 372.50.

Analyst Ratings Changes

VLX has been the topic of a number of recent research reports. Peel Hunt reissued a “buy” rating and set a GBX 380 price target on shares of Volex in a research note on Thursday, October 16th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 430 price objective on shares of Volex in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Volex has an average rating of “Buy” and a consensus price target of GBX 395.

Volex Price Performance

The firm has a market cap of £773.94 million, a P/E ratio of 16.48 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. The business’s 50 day moving average is GBX 361.56 and its two-hundred day moving average is GBX 338.03.

Insider Activity at Volex

In other Volex news, insider John Wilson bought 89 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was acquired at an average price of GBX 335 per share, with a total value of £298.15. 34.98% of the stock is currently owned by insiders.

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 end-markets: Electric Vehicles, Consumer Electricals, Medical, Complex Industrial Technology and Off-Highway.