Auction Technology Group (LON:ATG) Trading Down 21.7% After Analyst Downgrade

Key Points

• Auction Technology Group's shares fell 21.7% in mid-day trading, reaching a low of GBX 370 ($4.92) after closing at GBX 480 ($6.38).
• The trading volume increased significantly, with approximately 2,084,420 shares traded, representing a 228% rise from the average daily volume.
• As of the latest data, the company's debt-to-equity ratio stands at 18.16, while its market capitalization is £463.21 million.

Shares of Auction Technology Group plc (LON:ATG - Get Free Report) fell 21.7% during mid-day trading on Tuesday 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 376 ($5.06). 2,084,420 shares changed hands during mid-day trading, an increase of 228% from the average session volume of 636,357 shares. The stock had previously closed at GBX 480 ($6.46).

Several other research analysts also recently issued reports on the stock. Berenberg Bank lowered their price target on shares of Auction Technology Group from GBX 660 ($8.88) to GBX 560 ($7.53) and set a "buy" rating for the company in a report on Monday. JPMorgan Chase & Co. lowered their target price on Auction Technology Group from GBX 725 ($9.75) to GBX 710 ($9.55) and set an "overweight" rating for the company in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on 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 Trading Up 0.4%

The firm has a 50-day moving average of GBX 459.85 and a 200 day moving average of GBX 533.90. The company has a market cap of £432.37 million, a P/E ratio of 42.75 and a beta of 1.29. The company has a current ratio of 0.62, a quick ratio of 1.36 and a debt-to-equity ratio of 18.16.

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”).