Morgan Advanced Materials (LON:MGAM) Shares Cross Below 200-Day Moving Average – Time to Sell?

Morgan Advanced Materials plc (LON:MGAMGet Free Report)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 220.71 and traded as low as GBX 216.50. Morgan Advanced Materials shares last traded at GBX 218, with a volume of 1,530,271 shares.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 230 price objective on shares of Morgan Advanced Materials in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Morgan Advanced Materials has an average rating of “Hold” and a consensus target price of GBX 235.

Get Our Latest Stock Analysis on Morgan Advanced Materials

Morgan Advanced Materials Price Performance

The stock has a market capitalization of £602.58 million, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 0.51 and a beta of 1.22. The firm has a 50 day simple moving average of GBX 220.56 and a 200-day simple moving average of GBX 220.71. The company has a debt-to-equity ratio of 113.93, a current ratio of 1.23 and a quick ratio of 1.26.

Insider Activity

In other news, insider Richard Armitage sold 33,105 shares of Morgan Advanced Materials stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of GBX 223, for a total value of £73,824.15. Company insiders own 1.25% of the company’s stock.

Morgan Advanced Materials Company Profile

(Get Free Report)

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013. Morgan Advanced Materials plc was founded in 1856 and is headquartered in Windsor, the United Kingdom.

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