Auction Technology Group (LON:ATG) Stock Price Down 20.4% on Analyst Downgrade

Key Points

• Auction Technology Group plc shares dropped by 20.4% on Monday, closing at GBX 382 ($5.07) after hitting a low of GBX 370 ($4.91).
• The increase in trading volume reached 1,142,017 shares, marking an 81% rise compared to the average session volume of 630,032 shares.
• ATG operates leading marketplaces for curated online auctions, connecting bidders with over 3,800 trusted auction houses across various sectors.

Auction Technology Group plc (LON:ATG - Get Free Report)'s stock price fell 20.4% on Monday after Royal Bank Of Canada lowered their price target on the stock from GBX 500 to GBX 415. Royal Bank Of Canada currently has a sector perform rating on the stock. Auction Technology Group traded as low as GBX 370 ($4.98) and last traded at GBX 382 ($5.14). 1,142,017 shares changed hands during mid-day trading, an increase of 81% from the average session volume of 630,032 shares. The stock had previously closed at GBX 480 ($6.46).

Several other equities analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Auction Technology Group from GBX 910 ($12.24) to GBX 815 ($10.96) and set a "buy" rating on the stock in a research note on Monday. Berenberg Bank cut their price objective on shares of Auction Technology Group from GBX 660 ($8.88) to GBX 560 ($7.53) and set a "buy" rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Auction Technology Group from GBX 725 ($9.75) to GBX 710 ($9.55) and set an "overweight" rating for the company in a research report on Tuesday.

Auction Technology Group Stock Down 2.9%

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 stock has a market cap of £420.02 million, a price-to-earnings ratio of 41.53 and a beta of 1.29. The business's fifty day moving average is GBX 459.85 and its two-hundred day moving average is GBX 533.90.

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”).