Workspace Group (LON:WKP) Stock Breaks Below 50-Day Moving Average – Here’s What Happened

Workspace Group Plc (LON:WKP)’s share price passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of GBX 354.78 and traded as low as GBX 351.60. Workspace Group shares last traded at GBX 354.20, with a volume of 178,543 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on WKP shares. Jefferies Financial Group restated a “hold” rating and issued a GBX 367 price objective on shares of Workspace Group in a research report on Thursday, October 15th. Berenberg Bank reduced their price target on Workspace Group from GBX 427 to GBX 418 and set a “buy” rating on the stock in a report on Friday, October 16th. Finally, Peel Hunt reaffirmed a “hold” rating and set a GBX 350 price target on shares of Workspace Group in a research report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 407.50.

Workspace Group Price Performance

The business’s 50 day moving average price is GBX 354.78 and its two-hundred day moving average price is GBX 361.40. The stock has a market cap of £692.38 million, a P/E ratio of -5.74, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. The company has a current ratio of 0.42, a quick ratio of 0.11 and a debt-to-equity ratio of 59.71.

Workspace Group Company Profile

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.