IP Group (LON:IPO) Share Price Passes Above 200 Day Moving Average – Here’s Why

IP Group Plc (LON:IPO)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 54.49 and traded as high as GBX 62.50. IP Group shares last traded at GBX 62.30, with a volume of 13,201,767 shares trading hands.

Analyst Upgrades and Downgrades

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

IP Group Stock Performance

The business’s 50 day simple moving average is GBX 57.54 and its two-hundred day simple moving average is GBX 54.62. The firm has a market capitalization of £576.59 million, a PE ratio of -4.54 and a beta of 1.36. The company has a current ratio of 9.28, a quick ratio of 8.59 and a debt-to-equity ratio of 13.99.

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

IP Group Company Profile

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.