Iofina (LON:IOF) Shares Pass Below 200-Day Moving Average – Here’s Why

Iofina plc (LON:IOF)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 24.26 and traded as low as GBX 24. Iofina shares last traded at GBX 25.70, with a volume of 427,795 shares trading hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised their target price on shares of Iofina from GBX 40 to GBX 45 and gave the stock a “buy” rating in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of GBX 45.

Iofina Stock Performance

The company has a market cap of £49.31 million, a P/E ratio of 10.28 and a beta of 0.49. The stock has a 50 day moving average price of GBX 24.99 and a two-hundred day moving average price of GBX 24.26. The company has a quick ratio of 1.56, a current ratio of 2.43 and a debt-to-equity ratio of 14.85.

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.