Auction Technology Group (LON:ATG) Trading Up 12.6% – Here’s Why

Auction Technology Group plc (LON:ATG)’s stock price was up 12.6% on Saturday . The stock traded as high as GBX 370 and last traded at GBX 362. Approximately 1,920,300 shares were traded during trading, an increase of 100% from the average daily volume of 958,306 shares. The stock had previously closed at GBX 321.50.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ATG. JPMorgan Chase & Co. upped their price target on shares of Auction Technology Group from GBX 690 to GBX 695 and gave the stock an “overweight” rating in a research note on Friday, November 28th. Berenberg Bank decreased their target price on shares of Auction Technology Group from GBX 560 to GBX 460 and set a “buy” rating for the company in a report on Thursday, November 27th. Royal Bank Of Canada cut their price target on shares of Auction Technology Group from GBX 415 to GBX 315 and set a “sector perform” rating on the stock in a report on Tuesday, December 2nd. Finally, Peel Hunt reduced their price target on shares of Auction Technology Group from GBX 730 to GBX 460 and set a “buy” rating for the company in a research report on Tuesday, December 2nd. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 549.

Auction Technology Group Stock Up 12.6%

The company’s 50 day simple moving average is GBX 291.14 and its 200-day simple moving average is GBX 339.95. The company has a current ratio of 0.62, a quick ratio of 1.36 and a debt-to-equity ratio of 18.16. The firm has a market cap of £438.34 million, a P/E ratio of -3.06 and a beta of 1.29.

Auction Technology Group Company Profile

Auction Technology Group plc (“ATG”) is the operator of the world’s leading marketplaces and auction services for curated online auctions, seamlessly connecting bidders from around the world to over 3,800 trusted auction houses across two major sectors: Industrial & Commercial (“I&C”) and Art & Antiques (“A&A”).

The Group powers eight online marketplaces and listing sites using its proprietary auction platform technology, hosting in excess of 70,000 live and timed auctions each year. ATG has been supporting the auction industry since 1971 and the Group has offices in the UK, US and Germany.