Made Tech Group (LON:MTEC) Shares Down 8.9% – Here’s What Happened

Made Tech Group Plc (LON:MTEC)’s share price dropped 8.9% on Tuesday . The company traded as low as GBX 31.50 ($0.42) and last traded at GBX 31.66 ($0.43). Approximately 7,682,732 shares traded hands during trading, an increase of 1,565% from the average daily volume of 461,348 shares. The stock had previously closed at GBX 34.75 ($0.47).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a GBX 55 price objective on shares of Made Tech Group in a research report on Tuesday, July 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Made Tech Group has an average rating of “Buy” and an average target price of GBX 55.

Made Tech Group Price Performance

The firm has a market capitalization of £48.52 million, a price-to-earnings ratio of 3,693.18 and a beta of 0.90. The business’s 50-day moving average price is GBX 37.16 and its 200 day moving average price is GBX 32.18.

Made Tech Group (LON:MTEC) last released its quarterly earnings results on Wednesday, September 24th. The company reported GBX 0.94 earnings per share for the quarter. Made Tech Group had a negative net margin of 6.36% and a negative return on equity of 18.03%. As a group, sell-side analysts expect that Made Tech Group Plc will post 2.6199998 earnings per share for the current year.

Made Tech Group Company Profile

Made Tech Group Plc provides digital, data, and technology services to the public sector in the United Kingdom. It offers digital delivery, embedded capabilities, data infrastructure and insights, and legacy application transformation services. The company provides services that enable central government, healthcare, and local government organizations to digitally transform.