Kitwave Group (LON:KITW) Stock Price Down 0.9% – Here’s Why

Kitwave Group plc (LON:KITW) dropped 0.9% during mid-day trading on Thursday . The company traded as low as GBX 212.63 ($2.83) and last traded at GBX 216 ($2.88). Approximately 117,791 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 343,511 shares. The stock had previously closed at GBX 218 ($2.91).

Analyst Ratings Changes

Separately, Canaccord Genuity Group reduced their price objective on shares of Kitwave Group from GBX 495 to GBX 420 and set a “buy” rating for the company in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of GBX 457.50.

Kitwave Group Stock Down 0.9%

The business’s 50 day moving average is GBX 227.89 and its 200 day moving average is GBX 263.88. The company has a market cap of £180.87 million, a P/E ratio of 10.43 and a beta of 0.78. The company has a quick ratio of 0.65, a current ratio of 1.02 and a debt-to-equity ratio of 103.83.

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.