Itaconix (LON:ITX) Reaches New 1-Year High – Here’s What Happened

Itaconix plc (LON:ITX) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as GBX 218 and last traded at GBX 208, with a volume of 110443 shares. The stock had previously closed at GBX 197.50.

Analyst Ratings Changes

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

Itaconix Trading Up 5.3%

The business has a fifty day moving average of GBX 141.67 and a 200-day moving average of GBX 121.94. The stock has a market capitalization of £28.05 million, a price-to-earnings ratio of -20.39 and a beta of 1.04. The company has a debt-to-equity ratio of 24.58, a current ratio of 3.43 and a quick ratio of 0.52.

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.