discoverIE Group (LON:DSCV) Stock Price Down 3.6% – Here’s What Happened

discoverIE Group plc (LON:DSCV) dropped 3.6% during mid-day trading on Monday . The stock traded as low as GBX 547 and last traded at GBX 558. Approximately 3,276,263 shares changed hands during trading, an increase of 409% from the average daily volume of 643,288 shares. The stock had previously closed at GBX 579.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Berenberg Bank reiterated a “buy” rating and issued a GBX 950 target price on shares of discoverIE Group in a report on Friday, December 5th. Deutsche Bank Aktiengesellschaft upgraded shares of discoverIE Group to a “buy” rating and boosted their price target for the company from GBX 735 to GBX 850 in a report on Monday, December 1st. Shore Capital Group reaffirmed a “buy” rating on shares of discoverIE Group in a research note on Monday, February 2nd. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a GBX 1,000 price objective on shares of discoverIE Group in a research report on Wednesday, December 3rd. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, discoverIE Group has a consensus rating of “Buy” and a consensus target price of GBX 830.

discoverIE Group Trading Down 0.2%

The company has a debt-to-equity ratio of 83.72, a quick ratio of 0.96 and a current ratio of 1.48. The company has a 50 day simple moving average of GBX 621.50 and a two-hundred day simple moving average of GBX 603.96. The company has a market cap of £557.47 million, a PE ratio of 21.83 and a beta of 1.09.

Insider Activity at discoverIE Group

In related news, insider Simon Gibbins acquired 2,601 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were purchased at an average cost of GBX 623 per share, with a total value of £16,204.23. Also, insider Clive Watson acquired 200 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was bought at an average price of GBX 640 per share, for a total transaction of £1,280. Company insiders own 3.70% of the company’s stock.

discoverIE Group Company Profile

discoverIE Group plc is an international group of businesses that design and manufacture innovative electronic components for industrial use. The Group provides application-specific components to original equipment manufacturers (“OEMs”) internationally, with a focus on key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, transportation, security, and industrial & connectivity.

The Group employs c.4,500 people across 20 countries. Its principal operating units are located in Continental Europe, the UK, China, Sri Lanka, India, Thailand, Mexico and the USA.