Workspace Group (LON:WKP) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Shares of Workspace Group Plc (LON:WKP) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 400.20 and traded as low as GBX 388. Workspace Group shares last traded at GBX 392, with a volume of 99,633 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Workspace Group from GBX 520 to GBX 480 and set a “buy” rating on the stock in a research note on Friday, December 5th. Peel Hunt reiterated a “buy” rating and issued a GBX 500 price objective on shares of Workspace Group in a research note on Thursday, October 16th. Jefferies Financial Group cut their price objective on Workspace Group from GBX 516 to GBX 490 and set a “buy” rating for the company in a research report on Thursday, November 20th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 403 target price on shares of Workspace Group in a report on Wednesday, November 19th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Workspace Group currently has an average rating of “Buy” and a consensus target price of GBX 468.25.

Workspace Group Trading Up 0.9%

The business has a 50-day moving average price of GBX 393.48 and a 200-day moving average price of GBX 400.15. The company has a quick ratio of 0.11, a current ratio of 1.23 and a debt-to-equity ratio of 57.43. The firm has a market capitalization of £753.77 million, a P/E ratio of -9.92, a PEG ratio of 1.54 and a beta of 1.04.

Workspace Group (LON:WKP) last posted its quarterly earnings results on Wednesday, November 19th. The company reported GBX (37) earnings per share for the quarter. Workspace Group had a negative return on equity of 12.20% and a negative net margin of 104.45%. Analysts anticipate that Workspace Group Plc will post 36.7630058 earnings per share for the current year.

Insider Buying and Selling

In other Workspace Group news, insider Rosie Shapland purchased 9,000 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was purchased at an average price of GBX 383 per share, for a total transaction of £34,470. Also, insider Manju Malhotra acquired 2,724 shares of the stock in a transaction dated Friday, November 21st. The stock was bought at an average price of GBX 367 per share, for a total transaction of £9,997.08. Insiders acquired 14,410 shares of company stock valued at $5,441,572 over the last quarter. Corporate insiders own 5.29% of the company’s stock.

About Workspace Group

Workspace is London's leading owner and operator of flexible workspace, currently managing 4.7 million sq. ft. of sustainable space at 79 locations in London and the South East. We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more. That in environments they tailor themselves, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential.