Workspace Group (LON:WKP) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Workspace Group Plc (LON:WKP) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 401.96 and traded as high as GBX 415.50. Workspace Group shares last traded at GBX 400, with a volume of 13,804,439 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WKP shares. Jefferies Financial Group reduced their price objective on Workspace Group from GBX 516 to GBX 490 and set a “buy” rating for the company in a research note on Thursday, November 20th. Berenberg Bank reiterated a “buy” rating and issued a GBX 487 price target on shares of Workspace Group in a research report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Workspace Group from GBX 520 to GBX 480 and set a “buy” rating on the stock in a research report on Friday, December 5th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Workspace Group currently has an average rating of “Buy” and a consensus price target of GBX 489.25.

Workspace Group Stock Up 0.4%

The company has a market capitalization of £770.12 million, a price-to-earnings ratio of -10.14, a PEG ratio of 1.54 and a beta of 1.08. The company has a current ratio of 1.47, a quick ratio of 0.11 and a debt-to-equity ratio of 61.92. The firm’s 50 day simple moving average is GBX 413.30 and its 200-day simple moving average is GBX 401.96.

Insider Buying and Selling

In other news, insider Rosie Shapland acquired 9,000 shares of Workspace Group stock in a transaction that occurred on Tuesday, December 16th. The stock was purchased at an average price of GBX 383 per share, for a total transaction of £34,470. 5.30% of the stock is currently owned by insiders.

About Workspace Group

Workspace is London's leading owner and operator of flexible workspace, currently managing 4.7 million sq. ft. of sustainable space at 79 locations in London and the South East. We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more. That in environments they tailor themselves, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential.