Auction Technology Group (LON:ATG) Hits New 52-Week Low - What's Next?

Key Points

• Auction Technology Group's stock reached a new 52-week low of GBX 330 ($4.43) during trading, down from a previous close of GBX 337 ($4.53).
• Analysts have substantially lowered their price targets for Auction Technology Group, with Royal Bank of Canada and Deutsche Bank reducing targets to GBX 415 ($5.57) and GBX 815 ($10.95), respectively.
• The company currently has a market capitalization of £412.61 million and a price-to-earnings ratio of 40.79, indicating potential concerns about its valuation compared to earnings.

Shares of Auction Technology Group plc (LON:ATG - Get Free Report) reached a new 52-week low during trading on Tuesday . The company traded as low as GBX 330 ($4.48) and last traded at GBX 334 ($4.53), with a volume of 268504 shares trading hands. The stock had previously closed at GBX 337 ($4.57).

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ATG shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Auction Technology Group from GBX 910 ($12.34) to GBX 815 ($11.05) and set a "buy" rating for the company in a research report on Monday, August 4th. JPMorgan Chase & Co. dropped their target price on shares of Auction Technology Group from GBX 725 ($9.83) to GBX 710 ($9.63) and set an "overweight" rating for the company in a research report on Tuesday, August 5th. Royal Bank Of Canada dropped their target price on shares of Auction Technology Group from GBX 500 ($6.78) to GBX 415 ($5.63) and set a "sector perform" rating for the company in a research report on Wednesday, August 6th. Finally, Berenberg Bank dropped their target price on shares of Auction Technology Group from GBX 660 ($8.95) to GBX 560 ($7.59) and set a "buy" rating for the company in a research report on Monday, August 4th.

Auction Technology Group Trading Up 2.2%

The firm has a market capitalization of £423.11 million, a P/E ratio of 41.83 and a beta of 1.29. The company has a quick ratio of 1.36, a current ratio of 0.62 and a debt-to-equity ratio of 18.16. The firm's 50-day simple moving average is GBX 444.53 and its 200-day simple moving average is GBX 521.58.

About Auction Technology Group

Auction Technology Group plc (“ATG”) is the operator of the world's leading marketplaces and auction services for curated online auctions, seamlessly connecting bidders from around the world to over 3,800 trusted auction houses across two major sectors: Industrial & Commercial (“I&C”) and Art & Antiques (“A&A”).