Itaconix (LON:ITX) Hits New 52-Week High – What’s Next?

Itaconix plc (LON:ITX)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 175 and last traded at GBX 162, with a volume of 54810 shares changing hands. The stock had previously closed at GBX 155.50.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group raised their price objective on shares of Itaconix from GBX 325 to GBX 375 and gave the company a “buy” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of GBX 375.

Itaconix Trading Up 4.2%

The stock has a market cap of £21.85 million, a P/E ratio of -15.88 and a beta of 0.97. The company has a debt-to-equity ratio of 24.58, a quick ratio of 0.52 and a current ratio of 3.43. The firm’s fifty day simple moving average is GBX 116.28 and its 200-day simple moving average is GBX 114.03.

Insider Buying and Selling at Itaconix

In other news, insider Peter Nieuwenhuizen bought 3,400 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was acquired at an average price of GBX 109 per share, with a total value of £3,706. 77.49% of the stock is currently owned by company insiders.

Itaconix Company Profile

Itaconix uses its proprietary plant-based polymer technology platform to produce and sell specialty ingredients that improve the safety, performance, and sustainability of consumer products. The Company’s current ingredients are enabling and leading new generations of products in detergents, hygiene, and hair care. Itaconix’s contributions to the global low carbon economy are recognised by the London Stock Exchange’s Green Economy Mark.