Evoke (LON:EVOK) Trading Down 9.6% After Analyst Downgrade

Evoke plc (LON:EVOK)’s stock price dropped 9.6% during trading on Friday after Berenberg Bank downgraded the stock to a hold rating. Berenberg Bank now has a GBX 35 price target on the stock, down from their previous price target of GBX 95. Evoke traded as low as GBX 26.10 and last traded at GBX 26.50. Approximately 8,449,295 shares changed hands during trading, an increase of 230% from the average daily volume of 2,564,155 shares. The stock had previously closed at GBX 29.30.

Several other equities analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Evoke from GBX 88 to GBX 108 and gave the company a “buy” rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. cut their price objective on Evoke from GBX 82 to GBX 66 and set a “neutral” rating on the stock in a research note on Wednesday, October 29th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 87.25.

Evoke Stock Performance

The firm has a 50 day moving average price of GBX 42.88 and a 200-day moving average price of GBX 54.11. The company has a market cap of £119.17 million, a P/E ratio of -1.06 and a beta of 0.84.

About Evoke