Mobico Group (LON:MCG) Trading 9.5% Higher - Here's What Happened

Mobico Group Plc (LON:MCG - Get Free Report) shot up 9.5% during trading on Wednesday . The company traded as high as GBX 34.48 ($0.46) and last traded at GBX 33.96 ($0.46). 12,053,845 shares were traded 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).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank dropped 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 Price Performance

The company has a market cap of £202.12 million, a P/E ratio of -1.43 and a beta of 1.60. The stock has a 50-day moving average of GBX 29.01 and a 200 day moving average of GBX 51.17.

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

Insider Buying and Selling

In related news, insider Phil White purchased 330,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was bought at an average cost of GBX 29 ($0.39) per share, for a total transaction of £95,700 ($128,456.38). Insiders own 26.06% of the company's stock.

Mobico Group Company Profile

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.