Mobico Group (LON:MCG) Stock Price Up 9.5% - Here's Why

Shares of Mobico Group Plc (LON:MCG - Get Free Report) shot up 9.5% during mid-day trading on Thursday . The company traded as high as GBX 34.48 ($0.46) and last traded at GBX 33.96 ($0.46). 12,053,845 shares traded hands during mid-day trading, an increase of 162% from the average session volume of 4,595,733 shares. The stock had previously closed at GBX 31 ($0.42).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reduced their price target on shares of Mobico Group from GBX 66 ($0.89) to GBX 35 ($0.47) and set a "hold" rating for the company in a research report on Wednesday, July 9th.

Mobico Group Trading Up 2.2%

The firm's 50-day moving average price is GBX 28.93 and its two-hundred day moving average price is GBX 51.49. The stock has a market cap of £212.84 million, a PE ratio of -1.51 and a beta of 1.60.

Mobico Group (LON:MCG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported GBX (134.80) (($1.81)) earnings per share for the quarter. Mobico Group had a negative return on equity of 13.71% and a negative net margin of 4.36%. On average, analysts anticipate that Mobico Group Plc will post 14.0227704 earnings per share for the current year.

Insider Activity

In other Mobico Group news, insider Phil White bought 330,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average cost of GBX 29 ($0.39) per share, with a total value of £95,700 ($128,508.12). Company insiders own 26.06% of the company's stock.

About Mobico Group

Mobico Group is a leading international transport operator, diversified internationally and by business area; with operations in North America, continental Europe, the UK and North Africa. We provide safe, efficient, clean and reliable shared mobility solutions to cities, businesses, education, healthcare and customers. We are internationally diversified with a balanced portfolio of high quality contracts and market-leading customer brands.