IP Group (LON:IPO) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• IP Group Plc's stock crossed above its 200-day moving average at GBX 48.78, reaching a high of GBX 54.30 during trading.
• Berenberg Bank has lowered its target price for IP Group shares from GBX 126 to GBX 100, while maintaining a "buy" rating.
• The company reported a negative earnings per share (EPS) of GBX (4.55) in its latest quarterly earnings results, with analysts forecasting an EPS of approximately 19.62 for the current year.

IP Group Plc (LON:IPO - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 48.78 ($0.66) and traded as high as GBX 54.30 ($0.73). IP Group shares last traded at GBX 52.90 ($0.71), with a volume of 3,354,346 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank lowered their price target on shares of IP Group from GBX 126 to GBX 100 and set a "buy" rating for the company in a research report on Wednesday, September 10th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, IP Group has an average rating of "Buy" and an average price target of GBX 100.

IP Group Stock Up 1.7%

The company's 50 day moving average price is GBX 57.62 and its 200 day moving average price is GBX 49.15. The company has a quick ratio of 8.59, a current ratio of 9.28 and a debt-to-equity ratio of 13.99. The firm has a market capitalization of £489.50 million, a price-to-earnings ratio of -271.41 and a beta of 1.36.

IP Group (LON:IPO - Get Free Report) last issued its quarterly earnings results on Wednesday, September 17th. The company reported GBX (4.55) earnings per share for the quarter. IP Group had a negative return on equity of 19.85% and a net margin of 106.78%. As a group, research analysts forecast that IP Group Plc will post 19.6245031 earnings per share for the current fiscal year.

About IP Group

IP Group accelerates the impact of science for a better future. As the most active UK based, early-stage science investor, we develop and support some of the world's most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK's largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions.