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

iomart Group plc (LON:IOM) shares 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 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).

Wall Street Analyst Weigh In

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

iomart Group Stock Down 16.1 %

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

iomart Group Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 9th were given a dividend of GBX 1.30 ($0.02) per share. The ex-dividend date was Thursday, January 9th. This represents a 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).