Auction Technology Group (LON:ATG) Trading Down 2.5% – Here’s What Happened

Auction Technology Group plc (LON:ATG) shares fell 2.5% on Monday . The company traded as low as GBX 391 and last traded at GBX 400.60. Approximately 12,500,771 shares traded hands during trading, an increase of 100% from the average daily volume of 6,247,199 shares. The stock had previously closed at GBX 411.

Analysts Set New Price Targets

A number of equities analysts have commented on ATG shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 815 price objective on shares of Auction Technology Group in a report on Friday, May 15th. Berenberg Bank restated a “buy” rating and set a GBX 460 target price on shares of Auction Technology Group in a research note on Monday, May 18th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 549.

Auction Technology Group Stock Performance

The company has a market capitalization of £482.79 million, a price-to-earnings ratio of -3.21 and a beta of 0.70. The company has a debt-to-equity ratio of 32.55, a quick ratio of 1.36 and a current ratio of 0.94. The company’s fifty day simple moving average is GBX 391.04 and its two-hundred day simple moving average is GBX 338.62.

Insider Buying and Selling

In other news, insider Duncan Painter acquired 125,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average cost of GBX 422 per share, with a total value of £527,500. Company insiders own 16.79% of the company’s stock.

About Auction Technology Group

Auction Technology Group plc (“ATG”) is the operator of the world’s leading marketplaces and auction services for curated online auctions, seamlessly connecting bidders from around the world to over 3,800 trusted auction houses across two major sectors: Industrial & Commercial (“I&C”) and Art & Antiques (“A&A”).

The Group powers eight online marketplaces and listing sites using its proprietary auction platform technology, hosting in excess of 70,000 live and timed auctions each year. ATG has been supporting the auction industry since 1971 and the Group has offices in the UK, US and Germany.