Mercia Asset Management (LON:MERC) Shares Up 2.5% - Here's Why

Mercia Asset Management PLC (LON:MERC - Get Free Report)'s stock price shot up 2.5% during mid-day trading on Thursday . The stock traded as high as GBX 28.60 ($0.38) and last traded at GBX 28.40 ($0.38). 1,926,440 shares traded hands during mid-day trading, an increase of 218% from the average session volume of 605,452 shares. The stock had previously closed at GBX 27.70 ($0.37).

Analyst Ratings Changes

Separately, Canaccord Genuity Group reiterated a "buy" rating and issued a GBX 64 ($0.86) price objective on shares of Mercia Asset Management in a research note on Wednesday, April 16th.

Mercia Asset Management Trading Down 3.2%

The company has a market capitalization of £120.90 million, a P/E ratio of 0.28 and a beta of 1.20. The company has a 50-day simple moving average of GBX 27.25 and a 200 day simple moving average of GBX 27.80. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.34 and a current ratio of 4.41.

About Mercia Asset Management

Mercia is a proactive, specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of balance sheet, venture, private equity and debt capital; the Group's 'Complete Capital Solution'. The Group initially nurtures businesses via its third-party funds under management then, over time, Mercia can provide further funding to the most promising companies by deploying direct investment follow-on capital from its own balance sheet.