Morgan Advanced Materials (LON:MGAM) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Morgan Advanced Materials plc (LON:MGAM)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 220.72 and traded as high as GBX 240. Morgan Advanced Materials shares last traded at GBX 237.50, with a volume of 122,380,844 shares traded.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reiterated a “hold” rating and issued a GBX 230 price objective on shares of Morgan Advanced Materials in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of GBX 235.

Morgan Advanced Materials Stock Down 0.2%

The firm has a 50 day simple moving average of GBX 221.87 and a 200-day simple moving average of GBX 220.72. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 113.93. The stock has a market cap of £662.01 million, a P/E ratio of 31.93, a price-to-earnings-growth ratio of 0.51 and a beta of 1.22.

Insider Activity

In other news, insider Richard Armitage sold 6,251 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of GBX 223, for a total transaction of £13,939.73. Corporate insiders own 1.25% of the company’s stock.

About Morgan Advanced Materials

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013. Morgan Advanced Materials plc was founded in 1856 and is headquartered in Windsor, the United Kingdom.