discoverIE Group (LON:DSCV) Trading Down 1.9% – Here’s What Happened

discoverIE Group plc (LON:DSCV)’s share price fell 1.9% on Monday . The company traded as low as GBX 508 and last traded at GBX 515.15. 175,453 shares changed hands during trading, a decline of 88% from the average session volume of 1,426,891 shares. The stock had previously closed at GBX 525.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 950 price objective on shares of discoverIE Group in a research report on Friday, December 5th. Shore Capital Group restated a “buy” rating on shares of discoverIE Group in a research note on Monday, February 2nd. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a GBX 1,000 price target on shares of discoverIE Group in a report on Wednesday, December 3rd. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of GBX 830.

discoverIE Group Stock Up 5.6%

The firm has a market capitalization of £551.65 million, a price-to-earnings ratio of 21.60 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.48 and a debt-to-equity ratio of 83.72. The company’s 50 day moving average price is GBX 608.82 and its 200 day moving average price is GBX 598.28.

Insider Activity

In other news, insider Clive Watson bought 200 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were purchased at an average price of GBX 640 per share, for a total transaction of £1,280. Also, insider Simon Gibbins purchased 2,601 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The stock was acquired at an average price of GBX 623 per share, for a total transaction of £16,204.23. 3.70% of the stock is currently owned by insiders.

discoverIE Group Company Profile

discoverIE Group plc is an international group of businesses that design and manufacture innovative electronic components for industrial use. The Group provides application-specific components to original equipment manufacturers (“OEMs”) internationally, with a focus on key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, transportation, security, and industrial & connectivity.

The Group employs c.4,500 people across 20 countries. Its principal operating units are located in Continental Europe, the UK, China, Sri Lanka, India, Thailand, Mexico and the USA.