Iofina (LON:IOF) Stock Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Iofina plc (LON:IOF) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 24.26 and traded as low as GBX 23.60. Iofina shares last traded at GBX 24.50, with a volume of 266,418 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lifted their price target on Iofina from GBX 40 to GBX 45 and gave the stock a “buy” rating in a research note on Monday, December 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of GBX 45.

Iofina Stock Performance

The company has a current ratio of 2.43, a quick ratio of 1.56 and a debt-to-equity ratio of 14.85. The firm has a market capitalization of £47.01 million, a PE ratio of 9.80 and a beta of 0.49. The stock’s 50 day moving average price is GBX 25.36 and its two-hundred day moving average price is GBX 24.26.

About Iofina

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.