Mobico Group (LON:MCG) Shares Down 7% – Here’s Why

Mobico Group Plc (LON:MCG) fell 7% during mid-day trading on Friday . The company traded as low as GBX 21.88 and last traded at GBX 22.53. 80,518,258 shares were traded during trading, an increase of 731% from the average session volume of 9,693,986 shares. The stock had previously closed at GBX 24.22.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada dropped their price target on shares of Mobico Group from GBX 30 to GBX 25 and set a “sector perform” rating on the stock in a report on Wednesday, March 25th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of GBX 30.

Mobico Group Stock Down 8.1%

The business has a fifty day simple moving average of GBX 22.38 and a two-hundred day simple moving average of GBX 22.73. The company has a market cap of £135.82 million, a P/E ratio of -0.43 and a beta of 1.32.

About Mobico Group

Mobico Group is a leading international transport operator, diversified internationally and by business area; with operations in North America, continental Europe, the UK and North Africa.

We provide safe, efficient, clean and reliable shared mobility solutions to cities, businesses, education, healthcare and customers.

We are internationally diversified with a balanced portfolio of high quality contracts and market-leading customer brands.

We help millions of people around the world every day, getting them safely and reliably to work, school, to family and friends.

We are leveraging our network economies to shape the future of multi-modal transport.