Itaconix (LON:ITX) Trading Down 8.9% – Time to Sell?

Itaconix plc (LON:ITX)’s stock price fell 8.9% during mid-day trading on Tuesday . The stock traded as low as GBX 148 and last traded at GBX 153. 250,552 shares changed hands during trading, an increase of 1,156% from the average session volume of 19,942 shares. The stock had previously closed at GBX 168.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group raised their price objective on Itaconix from GBX 325 to GBX 375 and gave the company a “buy” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of GBX 375.

Itaconix Stock Performance

The company has a fifty day moving average price of GBX 113.85 and a two-hundred day moving average price of GBX 113.24. The company has a debt-to-equity ratio of 24.58, a current ratio of 3.43 and a quick ratio of 0.52. The company has a market capitalization of £19.55 million, a P/E ratio of -14.22 and a beta of 0.97.

Insider Buying and Selling

In other Itaconix news, insider Peter Nieuwenhuizen bought 3,400 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average cost of GBX 109 per share, for a total transaction of £3,706. 77.49% of the stock is currently owned by corporate insiders.

About Itaconix

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.