IP Group (LON:IPO) Stock Price Up 11.6% - Here's What Happened

Key Points

• IP Group Plc shares rose by 11.6% on Monday, reaching a trading price of GBX 60.50 ($0.81) compared to the previous close of GBX 54.20 ($0.72).
• Berenberg Bank has reduced its target price for IP Group from GBX 126 to GBX 100, while maintaining a "buy" rating for the stock.
• Despite a negative earnings per share (EPS) of GBX (4.55) reported last quarter, the company has a projected EPS of approximately 19.62 for the current year.

Shares of IP Group Plc (LON:IPO - Get Free Report) traded up 11.6% on Monday . The company traded as high as GBX 60.70 ($0.81) and last traded at GBX 60.50 ($0.81). 13,015,433 shares were traded during trading, an increase of 149% from the average session volume of 5,221,994 shares. The stock had previously closed at GBX 54.20 ($0.72).

Wall Street Analyst Weigh In

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

IP Group Stock Up 11.1%

The company has a debt-to-equity ratio of 13.99, a current ratio of 9.28 and a quick ratio of 8.59. The business has a fifty day moving average price of GBX 56.66 and a two-hundred day moving average price of GBX 50.20. The firm has a market capitalization of £538.99 million, a price-to-earnings ratio of -421.57 and a beta of 1.36.

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

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