Auction Technology Group (LON:ATG) Trading Down 21.7% - Here's What Happened

Key Points

• Auction Technology Group (ATG) shares fell by 21.7% on Monday, trading as low as GBX 370 ($4.91) from a previous close of GBX 480 ($6.37).
• The trading volume for ATG reached approximately 2,084,420 shares, which is an increase of 228% compared to the average daily volume of 636,357 shares.
• The company's market capitalization stands at £464.49 million, with notable financial metrics including a PE ratio of 45.92 and a quick ratio of 1.36.

Shares of Auction Technology Group plc (LON:ATG - Get Free Report) were down 21.7% on Monday . The company traded as low as GBX 370 ($4.92) and last traded at GBX 376 ($5.00). Approximately 2,084,420 shares traded hands during mid-day trading, an increase of 228% from the average daily volume of 636,357 shares. The stock had previously closed at GBX 480 ($6.38).

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Auction Technology Group from GBX 910 ($12.09) to GBX 815 ($10.83) and set a "buy" rating for the company in a research report on Monday. JPMorgan Chase & Co. lowered their price objective on shares of Auction Technology Group from GBX 725 ($9.64) to GBX 710 ($9.44) and set an "overweight" rating for the company in a research report on Tuesday. Finally, Berenberg Bank lowered their price objective on shares of Auction Technology Group from GBX 660 ($8.77) to GBX 560 ($7.44) and set a "buy" rating for the company in a research report on Monday.

Auction Technology Group Trading Down 2.3%

The company has a market capitalization of £453.99 million, a P/E ratio of 44.89 and a beta of 1.29. The business has a fifty day moving average price of GBX 465.78 and a 200 day moving average price of GBX 537.97. The company has a quick ratio of 1.36, a current ratio of 0.62 and a debt-to-equity ratio of 18.16.

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”).