Made Tech Group (LON:MTEC) Trading Down 13.6% - Here's What Happened

Key Points

• Made Tech Group's stock price fell by 13.6%, trading at GBX 35 ($0.47) after previously closing at GBX 40.50 ($0.55).
• Analysts have a consensus rating of "Buy" for Made Tech Group, with a price target of GBX 55, according to Canaccord Genuity Group.
• The company's market cap is £53.74 million, with a significant negative price-to-earnings ratio of -4,137.93.

Made Tech Group Plc (LON:MTEC - Get Free Report)'s stock price traded down 13.6% on Wednesday . The stock traded as low as GBX 35 ($0.47) and last traded at GBX 35 ($0.47). 820,314 shares were traded during mid-day trading, an increase of 111% from the average session volume of 388,635 shares. The stock had previously closed at GBX 40.50 ($0.55).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reissued a "buy" rating and set a GBX 55 price objective on shares of Made Tech Group in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of GBX 55.

Made Tech Group Trading Down 11.1%

The firm's 50 day moving average is GBX 37.21 and its two-hundred day moving average is GBX 31.54. The stock has a market cap of £53.74 million, a price-to-earnings ratio of -4,137.93 and a beta of 0.90.

About Made Tech Group

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.

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