Alphawave IP Group (LON:AWE) Shares Down 13.8% – Here’s Why

Alphawave IP Group plc (LON:AWE) was down 13.8% during mid-day trading on Saturday . The company traded as low as GBX 187.90 and last traded at GBX 188.50. Approximately 4,099,411 shares traded hands during trading, an increase of 43% from the average daily volume of 2,862,369 shares. The stock had previously closed at GBX 218.80.

Alphawave IP Group Stock Performance

The firm has a market cap of £1.49 billion, a P/E ratio of -8.20, a PEG ratio of 0.44 and a beta of 0.89. The company has a current ratio of 0.62, a quick ratio of 15.51 and a debt-to-equity ratio of 53.89. The company’s 50-day moving average is GBX 191.99 and its two-hundred day moving average is GBX 181.78.

Insider Activity at Alphawave IP Group

In related news, insider Rahul Mathur acquired 1,806 shares of the stock in a transaction on Wednesday, October 8th. The shares were acquired at an average price of GBX 147 per share, with a total value of £2,654.82. 42.12% of the stock is owned by insiders.

Alphawave IP Group Company Profile

Faced with the exponential growth of data, Alphawave IP’s technology services a critical need: enabling data to travel faster, more reliably and with higher performance at lower power. Alphawave IP is a global leader in high-speed connectivity for the world’s technology infrastructure. Our IP solutions therefore meet the needs of global tier-one customers in data centers, compute, networking, AI, 5G, autonomous vehicles, and storage.