Workspace Group (LON:WKP) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Workspace Group Plc (LON:WKP) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 400.94 and traded as high as GBX 425.50. Workspace Group shares last traded at GBX 424.50, with a volume of 95,661 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Peel Hunt reissued a “buy” rating and set a GBX 500 price target on shares of Workspace Group in a research report on Thursday, October 16th. Jefferies Financial Group lowered their target price on shares of Workspace Group from GBX 516 to GBX 490 and set a “buy” rating for the company in a research note on Thursday, November 20th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 487 price target on shares of Workspace Group in a report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Workspace Group from GBX 520 to GBX 480 and set a “buy” rating for the company in a report on Friday, December 5th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of GBX 489.25.

Workspace Group Stock Performance

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 stock has a market capitalization of £812.42 million, a PE ratio of -10.70, a PEG ratio of 1.54 and a beta of 1.04. The firm has a 50 day moving average price of GBX 401.30 and a 200-day moving average price of GBX 401.08.

Workspace Group (LON:WKP) last issued 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%. Research analysts expect that Workspace Group Plc will post 36.7630058 EPS for the current fiscal year.

Insider Transactions at Workspace Group

In other Workspace Group news, insider Rosie Shapland bought 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was bought at an average cost of GBX 383 per share, for a total transaction of £34,470. Also, insider Manju Malhotra purchased 2,724 shares of the stock in a transaction on Friday, November 21st. The stock was acquired at an average cost of GBX 367 per share, for a total transaction of £9,997.08. Insiders have acquired 14,410 shares of company stock worth $5,441,572 over the last 90 days. 5.30% of the stock is currently owned by company insiders.

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.