Kitwave Group (LON:KITW) Stock Price Down 2.4% – Here’s What Happened

Kitwave Group plc (LON:KITW)’s stock price traded down 2.4% during trading on Monday . The stock traded as low as GBX 224 ($3.03) and last traded at GBX 228 ($3.08). 447,837 shares changed hands during trading, an increase of 30% from the average session volume of 345,221 shares. The stock had previously closed at GBX 233.69 ($3.16).

Analyst Ratings Changes

Separately, Canaccord Genuity Group reduced their price objective on shares of Kitwave Group from GBX 495 ($6.69) to GBX 420 ($5.67) and set a “buy” rating for the company in a research note on Tuesday, July 1st.

Kitwave Group Trading Down 2.4%

The stock has a market capitalization of £182.76 million, a P/E ratio of 9.47 and a beta of 0.78. The company has a current ratio of 1.02, a quick ratio of 0.65 and a debt-to-equity ratio of 103.83. The stock’s fifty day moving average price is GBX 266.76 and its two-hundred day moving average price is GBX 277.91.

Kitwave Group (LON:KITW) last posted its quarterly earnings results on Tuesday, July 1st. The company reported GBX 7.90 ($0.11) EPS for the quarter. Kitwave Group had a net margin of 2.83% and a return on equity of 20.87%. Equities research analysts forecast that Kitwave Group plc will post 33.0838323 EPS for the current year.

Insider Buying and Selling

In other news, insider Gerard T. Murray purchased 15,000 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was bought at an average cost of GBX 238 ($3.21) per share, for a total transaction of £35,700 ($48,223.69). 14.99% of the stock is owned by corporate insiders.

About Kitwave Group

Kitwave Group plc is a delivered wholesale business with over 2,100 employees and a network of 37 depots able to support delivery throughout the UK, specialising in selling impulse products (such as confectionery, soft drinks, snacks, ice cream), frozen and chilled foods, alcohol, groceries and tobacco to over 46,000, mainly independent, customers.