Impax Asset Management Group (LON:IPX) Share Price Crosses Below 50-Day Moving Average - What's Next?

Key Points

• Impax Asset Management Group stock has recently crossed below its 50-day moving average, trading as low as GBX 172 ($2.34) from a 50-day average of GBX 191.10 ($2.60).
• Berenberg Bank has lowered its price target for the company from GBX 330 to GBX 300, while maintaining a "buy" rating for the stock, which has a consensus rating of "Buy" with an average target price of GBX 300.
• The company has a market capitalization of £224.12 million and notable financial metrics, including a current ratio of 3.23 and a debt-to-equity ratio of 5.94.

Impax Asset Management Group Plc (LON:IPX - Get Free Report) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of GBX 191.10 ($2.57) and traded as low as GBX 172 ($2.32). Impax Asset Management Group shares last traded at GBX 177 ($2.38), with a volume of 112,353 shares trading hands.

Analysts Set New Price Targets

Separately, Berenberg Bank dropped their price target on Impax Asset Management Group from GBX 330 to GBX 300 and set a "buy" rating on the stock in a research report on Wednesday, July 9th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of GBX 300.

Impax Asset Management Group Stock Down 3.1%

The company has a quick ratio of 2.26, a current ratio of 3.23 and a debt-to-equity ratio of 5.94. The company has a fifty day simple moving average of GBX 189.63 and a 200 day simple moving average of GBX 177.76. The firm has a market capitalization of £230.31 million, a P/E ratio of 759.00, a P/E/G ratio of 5.05 and a beta of 1.64.

About Impax Asset Management Group

Impax Asset Management was founded in 1998 and has been a pioneer in the development of investing in the transition to a more sustainable global economy. We are one of the largest investment managers dedicated to investing in sustainable markets globally. We believe that capital markets will be shaped profoundly by global sustainability challenges, including climate change, pollution and essential investments in human capital, infrastructure and resource efficiency.