Kainos Group (LON:KNOS) Shares Up 22.5% - Here's What Happened

Key Points

• Kainos Group's shares surged by 22.5% during mid-day trading, reaching a high of GBX 870.50 ($11.79) after closing at GBX 707 ($9.58).
• Analysts have maintained a positive outlook with multiple firms issuing "buy" ratings and setting target prices above the current stock level, with a consensus target price of GBX 1,070.
• The company, which provides digital technology services, has a market cap of £1.04 billion and recently reported a significant increase in trading volume, up by 259% from the average session volume.

Kainos Group plc (LON:KNOS - Get Free Report)'s stock price shot up 22.5% during mid-day trading on Monday . The stock traded as high as GBX 870.50 ($11.79) and last traded at GBX 866 ($11.73). 1,323,183 shares changed hands during mid-day trading, an increase of 259% from the average session volume of 368,477 shares. The stock had previously closed at GBX 707 ($9.58).

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KNOS. Canaccord Genuity Group restated a "speculative buy" rating and set a GBX 1,000 price objective on shares of Kainos Group in a report on Monday. Shore Capital restated a "buy" rating and issued a GBX 1,070 price target on shares of Kainos Group in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of GBX 1,070.

Kainos Group Price Performance

The stock has a market cap of £1.04 billion, a price-to-earnings ratio of 3,070.92, a P/E/G ratio of 2.15 and a beta of 0.79. The stock has a fifty day moving average of GBX 721.54 and a 200 day moving average of GBX 720.47. The company has a debt-to-equity ratio of 3.76, a current ratio of 1.81 and a quick ratio of 1.59.

About Kainos Group

Kainos Group plc engages in the provision of digital technology services in the United Kingdom, Ireland, North America, Central Europe, and internationally. It operates through three segments: Digital Services, Workday Services, and Workday Products. The Digital Services segment develops and supports custom digital service platforms for transforming service delivery in public, commercial, and healthcare sectors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.