Auction Technology Group (LON:ATG) Trading Down 21.7% - What's Next?

Key Points

• Auction Technology Group's shares dropped by 21.7% on Monday, closing at GBX 376 ($4.99) after reaching a low of GBX 370 ($4.91).
• The trading volume increased significantly to 2,084,420 shares, which is a 228% rise from the average session volume of 636,357 shares.
• The company has a market cap of £464.49 million and a high P/E ratio of 45.92, indicating a potentially overvalued stock based on its earnings.

Auction Technology Group plc (LON:ATG - Get Free Report)'s stock price fell 21.7% on Monday . The stock traded as low as GBX 370 ($4.92) and last traded at GBX 376 ($5.00). 2,084,420 shares traded hands during trading, an increase of 228% from the average session volume of 636,357 shares. The stock had previously closed at GBX 480 ($6.38).

Wall Street Analysts Forecast Growth

ATG has been the subject of several recent research reports. Berenberg Bank lowered their price target on Auction Technology Group from GBX 660 ($8.78) to GBX 560 ($7.45) and set a "buy" rating for the company in a research note on Monday. JPMorgan Chase & Co. lowered their price target 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. Royal Bank Of Canada lowered their price target on Auction Technology Group from GBX 500 ($6.65) to GBX 415 ($5.52) and set a "sector perform" rating for the company in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lowered their price target 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 Down 5.2%

The firm has a fifty day moving average price of GBX 464.02 and a 200 day moving average price of GBX 536.79. 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 £430.52 million, a P/E ratio of 42.57 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”).