Itaconix (LON:ITX) Stock Price Up 28.5% on Analyst Upgrade

Itaconix plc (LON:ITX)’s share price rose 28.5% during mid-day trading on Friday after Canaccord Genuity Group raised their price target on the stock from GBX 325 to GBX 375. Canaccord Genuity Group currently has a buy rating on the stock. Itaconix traded as high as GBX 151 and last traded at GBX 151. 395,642 shares were traded during trading, an increase of 2,225% from the average session volume of 17,014 shares. The stock had previously closed at GBX 117.50.

Insider Activity at Itaconix

In related news, insider Peter Nieuwenhuizen acquired 3,400 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average price of GBX 109 per share, with a total value of £3,706. 77.49% of the stock is currently owned by insiders.

Itaconix Trading Up 28.5%

The business’s fifty day moving average price is GBX 110.04 and its 200 day moving average price is GBX 111.89. The company has a quick ratio of 0.52, a current ratio of 3.43 and a debt-to-equity ratio of 24.58. The firm has a market capitalization of £20.36 million, a PE ratio of -14.80 and a beta of 0.97.

Itaconix Company Profile

Itaconix uses its proprietary plant-based polymer technology platform to produce and sell specialty ingredients that improve the safety, performance, and sustainability of consumer products. The Company’s current ingredients are enabling and leading new generations of products in detergents, hygiene, and hair care. Itaconix’s contributions to the global low carbon economy are recognised by the London Stock Exchange’s Green Economy Mark.