Workspace Group (LON:WKP) Stock Price Crosses Below Fifty Day Moving Average – Should You Sell?

Workspace Group Plc (LON:WKP)’s stock price crossed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of GBX 354.78 and traded as low as GBX 351.60. Workspace Group shares last traded at GBX 354.20, with a volume of 178,543 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Jefferies Financial Group reiterated a “hold” rating and set a GBX 367 price target on shares of Workspace Group in a research report on Thursday, October 15th. Berenberg Bank reduced their target price on Workspace Group from GBX 427 to GBX 418 and set a “buy” rating on the stock in a report on Friday, October 16th. Finally, Peel Hunt reaffirmed a “hold” rating and issued a GBX 350 target price on shares of Workspace Group in a report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Workspace Group has a consensus rating of “Moderate Buy” and a consensus price target of GBX 407.50.

Workspace Group Stock Performance

The company has a quick ratio of 0.11, a current ratio of 0.42 and a debt-to-equity ratio of 59.71. The stock has a market cap of £679.67 million, a price-to-earnings ratio of -5.64, a P/E/G ratio of 1.54 and a beta of 1.09. The company has a 50 day simple moving average of GBX 354.38 and a 200 day simple moving average of GBX 360.80.

Workspace Group Company Profile

Workspace is London's leading owner and operator of flexible workspace, currently managing 4.7 million sq. ft. of sustainable space at 79 locations in London and the South East. We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more. That in environments they tailor themselves, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential.