Auction Technology Group (LON:ATG) Shares Down 20.4% After Analyst Downgrade

Key Points

• Auction Technology Group's stock dropped 20.4% on Monday, with trading activity increasing to over 1.1 million shares compared to its average of 630,032 shares.
• The company's market capitalization stands at £473.90 million, with a PE ratio of 46.85 and a debt-to-equity ratio of 18.16.
• ATG operates leading online auction marketplaces, connecting bidders to over 3,800 auction houses across the Industrial & Commercial and Art & Antiques 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 traded hands during trading, an increase of 81% from the average session volume of 630,032 shares. The stock had previously closed at GBX 480 ($6.46).

ATG has been the topic of a number of other reports. JPMorgan Chase & Co. lowered their price target 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 decreased their price objective 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 report on Monday. Finally, Deutsche Bank Aktiengesellschaft reduced their target price 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 report on Monday.

Auction Technology Group Stock Performance

The company has a market capitalization of £420.02 million, a PE ratio of 41.53 and a beta of 1.29. 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 company has a 50 day moving average price of GBX 459.85 and a 200 day moving average price of 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”).