iomart Group (LON:IOM) Shares Down 16.1% – Here’s What Happened

iomart Group plc (LON:IOM)’s share price dropped 16.1% on Friday . The stock traded as low as GBX 24.81 ($0.33) and last traded at GBX 26.50 ($0.35). Approximately 1,134,147 shares changed hands during mid-day trading, an increase of 257% from the average daily volume of 317,316 shares. The stock had previously closed at GBX 31.60 ($0.42).

Analyst Ratings Changes

Separately, Shore Capital reiterated a “buy” rating on shares of iomart Group in a research report on Friday, February 7th.

iomart Group Trading Down 16.1 %

The company has a quick ratio of 1.18, a current ratio of 1.03 and a debt-to-equity ratio of 47.08. The company’s 50-day moving average price is GBX 34.09 and its 200-day moving average price is GBX 65.51. The firm has a market cap of £31.21 million, a price-to-earnings ratio of 4.81 and a beta of 0.58.

iomart Group Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 9th were issued a GBX 1.30 ($0.02) dividend. The ex-dividend date of this dividend was Thursday, January 9th. This represents a dividend yield of 1.38%. iomart Group’s dividend payout ratio is presently 90.68%.

About iomart Group

iomart Group plc (AIM: IOM) is one of the UK’s leading provider of secure cloud managed services, simplifying the complexities of modern technology for businesses. Our team of 650+ experts deliver cutting-edge solutions in cloud infrastructure, modern workplace management, and managed security services that enable our customers to innovate, protect, and scale their businesses.

We proudly hold one of the UK’s most extensive sets of Microsoft credentials, including Azure Expert MSP, five Solution Partner Designations, and membership in Microsoft’s Intelligent Security Association (MISA).