Made Tech Group (LON:MTEC) Shares Up 0.7% - Here's What Happened

Key Points

• Made Tech Group Plc shares increased by 0.7% during mid-day trading, reaching a price of GBX 39.28 ($0.53) amidst a significant decline in trading volume.
• Analysts have a consensus rating of "Buy" on the stock, with a target price of GBX 55, according to Canaccord Genuity Group.
• Made Tech Group operates in the public sector, offering digital and technology services aimed at facilitating the digital transformation of government organizations in the UK.

Made Tech Group Plc (LON:MTEC - Get Free Report)'s stock price was up 0.7% on Wednesday . The stock traded as high as GBX 39.30 ($0.53) and last traded at GBX 39.28 ($0.53). Approximately 102,919 shares changed hands during trading, a decline of 73% from the average daily volume of 387,725 shares. The stock had previously closed at GBX 39 ($0.53).

Analysts Set New Price Targets

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

Made Tech Group Trading Down 3.6%

The company has a fifty day moving average of GBX 36.17 and a two-hundred day moving average of GBX 30.44. The stock has a market capitalization of £57.48 million, a price-to-earnings ratio of -23.43 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.