Xeros Technology Group (LON:XSG) Stock Price Down 10.4% – Here’s What Happened

Shares of Xeros Technology Group plc (LON:XSG) fell 10.4% on Wednesday . The company traded as low as GBX 1.50 and last traded at GBX 1.50. Approximately 3,043,970 shares traded hands during mid-day trading, an increase of 51% from the average session volume of 2,010,437 shares. The stock had previously closed at GBX 1.68.

Xeros Technology Group Stock Down 10.4%

The firm has a market capitalization of £12.93 million, a PE ratio of -2.42 and a beta of 2.36. The firm’s 50-day moving average is GBX 1.61 and its 200 day moving average is GBX 1.51. The company has a debt-to-equity ratio of 8.15, a quick ratio of 3.05 and a current ratio of 6.56.

Xeros Technology Group (LON:XSG) last posted its earnings results on Wednesday, April 29th. The company reported GBX (0.62) earnings per share for the quarter. The business had revenue of GBX 24 million for the quarter. Xeros Technology Group had a negative net margin of 1,411.16% and a negative return on equity of 101.58%. As a group, research analysts forecast that Xeros Technology Group plc will post -17.6399991 earnings per share for the current fiscal year.

Xeros Technology Group Company Profile

Xeros Technology plc has developed patented and proven, industry-leading technologies which reduce the environmental impact of how industries make and care for clothes.

The traditional wet processing methods used in industrial and domestic laundry and garment manufacturing consume billions of litres of fresh water and large amounts of energy and chemicals, as well as damaging and weakening clothing fibres and creating rising levels of environmental pollution. It is estimated that washing machines contribute 35% of the 171 trillion microplastic particles in the ocean.

A range of actors, including consumers, the media NGOs and regulators are exerting pressure on these industries, with legislative action beginning to be taken.

Xeros’ three main technologies, Microfibre Pollution Filter, Laundry Care, and Garment Finishing, facilitate garment manufacturers, industrial laundries, domestic washing machine manufacturers and consumers, to reduce their environmental impact, whilst also significantly improving efficiency in the process.

Xeros’ model is to generate revenue from licensing its technologies, generating royalties and the sale of consumables.