Workspace Group (LON:WKP) Stock Breaks Below 50-Day Moving Average – Here’s What Happened

Workspace Group Plc (LON:WKP)’s stock price crossed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of GBX 354.78 and traded as low as GBX 351.60. Workspace Group shares last traded at GBX 354.20, with a volume of 178,543 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WKP. Peel Hunt restated a “hold” rating and issued a GBX 350 target price on shares of Workspace Group in a research note on Friday, July 24th. Berenberg Bank reduced their price target on Workspace Group from GBX 427 to GBX 418 and set a “buy” rating on the stock in a research note on Friday, October 16th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a GBX 367 price objective on shares of Workspace Group in a report on Thursday, October 15th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 407.50.

Workspace Group Price Performance

The firm has a 50-day moving average of GBX 354.78 and a 200-day moving average of GBX 361.40. The company has a debt-to-equity ratio of 59.71, a quick ratio of 0.11 and a current ratio of 0.42. The firm has a market capitalization of £692.38 million, a P/E ratio of -5.74, a PEG ratio of 1.54 and a beta of 1.09.

Workspace Group Company Profile

Workspace is London's leading owner and operator of flexible workspace, currently managing 4.7 million sq. ft. of sustainable space at 79 locations in London and the South East. We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more. That in environments they tailor themselves, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential.