Iofina (LON:IOF) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Iofina plc (LON:IOF) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 24.02 and traded as low as GBX 23. Iofina shares last traded at GBX 23.75, with a volume of 320,346 shares traded.

Wall Street Analyst Weigh In

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

Iofina Stock Performance

The company has a quick ratio of 1.56, a current ratio of 2.60 and a debt-to-equity ratio of 11.11. The business has a 50 day moving average price of GBX 22.85 and a 200 day moving average price of GBX 24.02. The stock has a market cap of £47.05 million, a P/E ratio of 9.81 and a beta of 0.71.

Iofina Company Profile

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.