Xeros Technology Group (LON:XSG) Trading 18.5% Higher – Here’s Why

Shares of Xeros Technology Group plc (LON:XSG) shot up 18.5% on Thursday . The company traded as high as GBX 1.80 and last traded at GBX 1.60. 4,247,750 shares were traded during mid-day trading, an increase of 132% from the average session volume of 1,831,243 shares. The stock had previously closed at GBX 1.35.

Xeros Technology Group Price Performance

The business has a fifty day simple moving average of GBX 1.58 and a 200-day simple moving average of GBX 1.64. The stock has a market capitalization of £12.74 million, a P/E ratio of -2.51 and a beta of 1.27. The company has a debt-to-equity ratio of 41.32, a quick ratio of 3.05 and a current ratio of 3.81.

Xeros Technology Group Company Profile

Xeros Technology plc has developed patented and proven, industry-leading technologies which reduce the environmental impact of how industries make and care for clothes.

The traditional wet processing methods used in industrial and domestic laundry and garment manufacturing consume billions of litres of fresh water and large amounts of energy and chemicals, as well as damaging and weakening clothing fibres and creating rising levels of environmental pollution. It is estimated that washing machines contribute 35% of the 171 trillion microplastic particles in the ocean.

A range of actors, including consumers, the media NGOs and regulators are exerting pressure on these industries, with legislative action beginning to be taken.

Xeros’ three main technologies, Microfibre Pollution Filter, Laundry Care, and Garment Finishing, facilitate garment manufacturers, industrial laundries, domestic washing machine manufacturers and consumers, to reduce their environmental impact, whilst also significantly improving efficiency in the process.

Xeros’ model is to generate revenue from licensing its technologies, generating royalties and the sale of consumables.