discoverIE Group (LON:DSCV) Stock Price Crosses Below 50-Day Moving Average – Should You Sell?

discoverIE Group plc (LON:DSCV) shares passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of GBX 815.88 and traded as low as GBX 795.20. discoverIE Group shares last traded at GBX 813, with a volume of 1,662,794 shares traded.

Analyst Ratings Changes

Several brokerages have recently weighed in on DSCV. Peel Hunt reiterated a “buy” rating and set a GBX 1,000 price target on shares of discoverIE Group in a research note on Friday, July 24th. Jefferies Financial Group reissued a “hold” rating and set a GBX 685 price objective on shares of discoverIE Group in a research report on Thursday, October 15th. Berenberg Bank upped their price objective on discoverIE Group from GBX 1,050 to GBX 1,100 and gave the stock a “buy” rating in a research note on Thursday, October 15th. Finally, Deutsche Bank upped their price objective on discoverIE Group from GBX 940 to GBX 1,000 and gave the stock a “buy” rating in a research note on Thursday, October 15th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of GBX 916.88.

discoverIE Group Price Performance

The firm has a 50 day moving average price of GBX 815.88 and a 200 day moving average price of GBX 711.39. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 72.98. The stock has a market cap of £768.05 million, a P/E ratio of 27.18 and a beta of 1.29.

About discoverIE Group

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.