Iofina (LON:IOF) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Iofina plc (LON:IOF)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 23.97 and traded as low as GBX 21.53. Iofina shares last traded at GBX 22, with a volume of 184,659 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upped their price target on shares of Iofina from GBX 38 to GBX 40 and gave the stock a “buy” rating in a report on Thursday, September 18th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of GBX 40.

Iofina Trading Up 1.1%

The company has a market cap of £42.21 million, a P/E ratio of 8.80 and a beta of 0.71. The company has a current ratio of 2.60, a quick ratio of 1.56 and a debt-to-equity ratio of 11.11. The firm has a 50-day moving average of GBX 22.55 and a 200 day moving average of GBX 23.97.

About Iofina

Iofina plc is a vertically integrated company that specialises in the production of Iodine and the manufacturing of specialty chemical products and derivatives. Iofina is the second largest producer of iodine in North America and operates the manufacturing entities, Iofina Resources, and Iofina Chemical.