Made Tech Group (LON:MTEC) Trading 12.6% Higher - What's Next?

Key Points

• Made Tech Group Plc shares increased by 12.6%, reaching a trading price of GBX 38 ($0.52), on significant trading volume that was 473% higher than average.
• Analysts from Canaccord Genuity Group reaffirmed a "buy" rating and set a price target of GBX 55 ($0.74) for the company's shares.
• Made Tech Group specializes in providing digital and technology services to the public sector in the UK, helping government organizations with their digital transformation needs.

Made Tech Group Plc (LON:MTEC - Get Free Report) shares were up 12.6% during trading on Thursday . The company traded as high as GBX 38.40 ($0.52) and last traded at GBX 38 ($0.51). Approximately 2,203,854 shares changed hands during mid-day trading, an increase of 473% from the average daily volume of 384,773 shares. The stock had previously closed at GBX 33.75 ($0.45).

Analyst Ratings Changes

Separately, Canaccord Genuity Group restated a "buy" rating and issued a GBX 55 ($0.74) target price on shares of Made Tech Group in a research note on Tuesday, July 8th.

Made Tech Group Price Performance

The firm has a fifty day simple moving average of GBX 34 and a two-hundred day simple moving average of GBX 29.49. The firm has a market capitalization of £58.92 million, a P/E ratio of -24.02 and a beta of 0.90.

Made Tech Group Company Profile

Made Tech Group Plc provides digital, data, and technology services to the public sector in the United Kingdom. It offers digital delivery, embedded capabilities, data infrastructure and insights, and legacy application transformation services. The company provides services that enable central government, healthcare, and local government organizations to digitally transform.