Auction Technology Group (LON:ATG) Shares Down 2.2% - Here's What Happened

Key Points

• Auction Technology Group shares fell by 2.2% to close at GBX 338.50 ($4.57) during mid-day trading, marking a significant decline in volume with only 283,167 shares traded compared to the average of 622,656 shares.
• Several brokerages downgraded their price targets for ATG, with Berenberg Bank reducing it from GBX 660 to GBX 560, while Royal Bank of Canada cut theirs from GBX 500 to GBX 415.
• Despite the recent downgrades, ATG currently holds a rating of "Moderate Buy" with an average target price of GBX 625, according to MarketBeat's analysts.

Shares of Auction Technology Group plc (LON:ATG - Get Free Report) fell 2.2% during mid-day trading on Wednesday . The company traded as low as GBX 337 ($4.55) and last traded at GBX 338.50 ($4.57). 283,167 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 622,656 shares. The stock had previously closed at GBX 346 ($4.67).

Analyst Ratings Changes

A number of brokerages have issued reports on ATG. Berenberg Bank reduced their price objective on shares of Auction Technology Group from GBX 660 to GBX 560 and set a "buy" rating for the company in a research report on Monday, August 4th. Royal Bank Of Canada reduced their price objective on shares of Auction Technology Group from GBX 500 to GBX 415 and set a "sector perform" rating for the company in a research report on Wednesday, August 6th. JPMorgan Chase & Co. reduced their price objective on shares of Auction Technology Group from GBX 725 to GBX 710 and set an "overweight" rating for the company in a research report on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Auction Technology Group from GBX 910 to GBX 815 and set a "buy" rating for the company in a research report on Monday, August 4th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of GBX 625.

Auction Technology Group Trading Down 2.2%

The company has a debt-to-equity ratio of 18.16, a current ratio of 0.62 and a quick ratio of 1.36. The stock has a market capitalization of £418.17 million, a PE ratio of 41.34 and a beta of 1.29. The stock's 50 day simple moving average is GBX 426.51 and its two-hundred day simple moving average is GBX 508.74.

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”).

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