Made Tech Group (LON:MTEC) Stock Price Down 1.9% - Time to Sell?

Key Points

• Made Tech Group's shares fell by 1.9% to GBX 37.28 ($0.51) with a significant trading volume drop of 72% compared to its average.
• Analysts from Canaccord Genuity have maintained a "buy" rating with a target price of GBX 55, indicating strong potential for future growth.
• The company specializes in digital and technology services for the UK public sector, aiming to support digital transformations in various governmental organizations.

Shares of Made Tech Group Plc (LON:MTEC - Get Free Report) were down 1.9% during mid-day trading on Thursday . The company traded as low as GBX 37 ($0.50) and last traded at GBX 37.28 ($0.51). Approximately 112,095 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 393,704 shares. The stock had previously closed at GBX 38 ($0.52).

Analyst Upgrades and Downgrades

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

Made Tech Group Trading Up 0.6%

The company has a market cap of £56.70 million, a PE ratio of -4,365.52 and a beta of 0.90. The business's 50-day simple moving average is GBX 37.16 and its 200-day simple moving average is GBX 31.21.

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.