Morgan Advanced Materials (LON:MGAM) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Morgan Advanced Materials plc (LON:MGAM)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 234.24 ($3.17) and traded as low as GBX 209 ($2.83). Morgan Advanced Materials shares last traded at GBX 214 ($2.90), with a volume of 382,605 shares traded.

Analyst Ratings Changes

Separately, Royal Bank of Canada reduced their price objective on Morgan Advanced Materials from GBX 320 ($4.33) to GBX 265 ($3.58) and set an “outperform” rating on the stock in a report on Monday, March 3rd.

Morgan Advanced Materials Stock Performance

The stock has a 50 day moving average price of GBX 198.97 and a two-hundred day moving average price of GBX 234.08. The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31. The company has a market cap of £603.23 million, a price-to-earnings ratio of 8.81, a P/E/G ratio of 0.51 and a beta of 1.34.

Insider Activity

In related news, insider Richard Armitage sold 26,348 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of GBX 212 ($2.87), for a total value of £55,857.76 ($75,565.15). Also, insider Pete Raby sold 52,587 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of GBX 214 ($2.90), for a total transaction of £112,536.18 ($152,240.50). Insiders have sold a total of 142,204 shares of company stock valued at $29,866,398 in the last 90 days. 1.69% of the stock is owned by company insiders.

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.