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

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) traded down 2.2% on Wednesday . The stock traded as low as GBX 337 ($4.51) and last traded at GBX 338.50 ($4.53). 283,167 shares were traded 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 ($4.63).

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Berenberg Bank lowered their target price on Auction Technology Group from GBX 660 to GBX 560 and set a "buy" rating on the stock in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft lowered their target price on Auction Technology Group from GBX 910 to GBX 815 and set a "buy" rating on the stock in a research note on Monday, August 4th. JPMorgan Chase & Co. lowered their target price on Auction Technology Group from GBX 725 to GBX 710 and set an "overweight" rating on the stock in a research note on Tuesday, August 5th. Finally, Royal Bank Of Canada lowered their target price on Auction Technology Group from GBX 500 to GBX 415 and set a "sector perform" rating on the stock in a research note on Wednesday, August 6th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Auction Technology Group presently has an average rating of "Moderate Buy" and a consensus target price of GBX 625.

Auction Technology Group Stock Performance

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 £384.65 million, a PE ratio of 1,605.53 and a beta of 1.29. The stock has a 50 day moving average of GBX 418.15 and a two-hundred day moving average of GBX 501.12.

Auction Technology Group Company Profile

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”).