Auction Technology Group (LON:ATG) Shares Down 21% After Analyst Downgrade

Key Points

• Auction Technology Group plc (LON:ATG) experienced a significant stock price decline of 21% on Monday, closing at GBX 379.23 ($5.04) after trading as low as GBX 370 ($4.91).
• Trading volume surged to 1,871,467 shares, marking a 195% increase from the average session volume of 634,927 shares.
• The company has a market capitalization of £469.43 million with a price-to-earnings ratio of 46.41 and a debt-to-equity ratio of 18.16.

Auction Technology Group plc (LON:ATG - Get Free Report)'s share price was down 21% 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 ($4.92) and last traded at GBX 379.23 ($5.04). Approximately 1,871,467 shares changed hands during mid-day trading, an increase of 195% from the average daily volume of 634,927 shares. The stock had previously closed at GBX 480 ($6.38).

Several other brokerages have also commented on ATG. Berenberg Bank cut their price objective on Auction Technology Group from GBX 660 ($8.78) to GBX 560 ($7.45) and set a "buy" rating for the company in a report on Monday. JPMorgan Chase & Co. cut their target price on Auction Technology Group from GBX 725 ($9.64) to GBX 710 ($9.44) and set an "overweight" rating for the company in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Auction Technology Group from GBX 910 ($12.10) to GBX 815 ($10.84) and set a "buy" rating for the company in a research note on Monday.

Auction Technology Group Stock Performance

The company has a quick ratio of 1.36, a current ratio of 0.62 and a debt-to-equity ratio of 18.16. The company has a market cap of £431.14 million, a P/E ratio of 42.63 and a beta of 1.29. The business has a fifty day moving average of GBX 464.02 and a 200 day moving average of GBX 536.79.

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”).