Kainos Group (LON:KNOS) Trading 22.5% Higher - Here's Why

Key Points

• Kainos Group plc shares surged by 22.5%, reaching GBX 870.50 during trading, significantly increasing trading volume to 1,323,183 shares.
• Analysts have a positive outlook for Kainos Group, with four firms rating the stock as a Buy, and target prices averaging around GBX 1,070.
• The company specializes in digital technology services across various sectors including public, commercial, and healthcare, and has a market capitalization of £1.04 billion.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Shore Capital reiterated a "buy" rating and issued a GBX 1,070 target price on shares of Kainos Group in a report on Monday. Canaccord Genuity Group restated a "speculative buy" rating and set a GBX 1,000 price target on shares of Kainos Group in a report on Monday. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of GBX 1,070.

Kainos Group Stock Performance

The company has a debt-to-equity ratio of 3.76, a current ratio of 1.81 and a quick ratio of 1.59. The firm has a fifty day moving average price of GBX 719.04 and a two-hundred day moving average price of GBX 719.97. The stock has a market capitalization of £1.04 billion, a PE ratio of 3,070.92, a P/E/G ratio of 2.15 and a beta of 0.79.

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.

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