Zigup (LON:ZIG) Shares Down 5.7% – Here’s What Happened

Zigup Plc (LON:ZIG)’s stock price dropped 5.7% during mid-day trading on Thursday . The company traded as low as GBX 430.50 and last traded at GBX 435. Approximately 1,118,778 shares were traded during trading, a decline of 48% from the average daily volume of 2,142,796 shares. The stock had previously closed at GBX 461.50.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 550 price target on shares of Zigup in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of GBX 537.50.

Zigup Price Performance

The firm has a market cap of £985.87 million, a price-to-earnings ratio of 13.22 and a beta of 1.05. The business has a fifty day simple moving average of GBX 461.67 and a 200 day simple moving average of GBX 429.75.

Zigup (LON:ZIG) last issued its quarterly earnings results on Wednesday, July 8th. The company reported GBX 53.10 earnings per share (EPS) for the quarter. Zigup had a return on equity of 7.00% and a net margin of 4.10%. On average, research analysts anticipate that Zigup Plc will post 52.8985507 earnings per share for the current fiscal year.

About Zigup

ZIGUP (formerly Redde Northgate plc) is the leading integrated mobility solutions provider, with a platform providing services across the vehicle lifecycle to help people keep on the move, smarter. The Company offers mobility solutions to businesses, fleet operators, insurers, OEMs and other customers across a broad range of areas from vehicle rental and fleet management to accident management, vehicle repairs, service and maintenance.
The mobility landscape is changing, becoming ever more connected and ZIGUP uses its knowledge and expertise to guide customers through the transformation, whether that is more digitally connected solutions or supporting the transition to lower carbon mobility through providing EVs, charging solutions and consultancy.

The Company’s core purpose is to keep its customers mobile, smarter – through meeting their regular mobility needs or by servicing and supporting them when unforeseen events occur.