Auction Technology Group (LON:ATG) Shares Down 20.4% Following 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 company's market capitalization is approximately £473.90 million, with a high price-to-earnings ratio of 46.85 and a beta of 1.29, indicating higher volatility compared to the market.
• ATG operates world-leading online auction services, connecting bidders with over 3,800 auction houses globally across sectors like Industrial & Commercial and Art & Antiques.

Shares of Auction Technology Group plc (LON:ATG - Get Free Report) traded down 20.4% during mid-day trading 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 traded 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).

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Auction Technology Group from GBX 725 ($9.75) to GBX 710 ($9.55) and set an "overweight" rating on the stock in a research note on Tuesday. Berenberg Bank lowered their target price on shares of Auction Technology Group from GBX 660 ($8.88) to GBX 560 ($7.53) and set a "buy" rating on the stock in a research note on Monday. Finally, 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.

Auction Technology Group Stock Performance

The business's fifty day moving average price is GBX 459.85 and its two-hundred day moving average price is GBX 533.90. The company has a debt-to-equity ratio of 18.16, a quick ratio of 1.36 and a current ratio of 0.62. The stock has a market capitalization of £420.02 million, a P/E ratio of 41.53 and a beta of 1.29.

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”).