Mitie Group (OTCMKTS:MITFY) Shares Gap Down – What’s Next?

Mitie Group PLC. (OTCMKTS:MITFY) gapped down before the market opened on Monday . The stock had previously closed at $11.37, but opened at $10.98. Mitie Group shares last traded at $10.94, with a volume of 6,851 shares trading hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank cut Mitie Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Mitie Group presently has an average rating of “Buy”.

Mitie Group Stock Performance

The business has a fifty day simple moving average of $10.77 and a 200 day simple moving average of $9.72. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.92.

About Mitie Group

Mitie Group plc is a United Kingdom-based facilities management and professional services company. It provides outsourced services that help organizations operate, maintain and improve their buildings, infrastructure and workplaces.

Its services include engineering and technical maintenance, cleaning, security, landscaping, catering, energy management, and workplace services. Mitie also supports customers with decarbonization, energy efficiency, mechanical and electrical systems, fire and security solutions, and technology-enabled facilities management.

The company serves customers across the public and private sectors, including government departments, healthcare organizations, transportation providers, commercial property owners and other large enterprises.