Morgan Advanced Materials (LON:MGAM) Stock Passes Below 200-Day Moving Average - What's Next?

Shares of Morgan Advanced Materials plc (LON:MGAM - Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 234.24 ($3.16) and traded as low as GBX 209 ($2.82). Morgan Advanced Materials shares last traded at GBX 214 ($2.89), with a volume of 382,605 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reduced their price target on shares of Morgan Advanced Materials from GBX 320 ($4.32) to GBX 265 ($3.58) and set an "outperform" rating for the company in a research report on Monday, March 3rd.

Morgan Advanced Materials Trading Down 0.5%

The firm has a market cap of £615.92 million, a P/E ratio of 8.99, a PEG ratio of 0.51 and a beta of 1.34. The company's 50 day moving average is GBX 199.39 and its two-hundred day moving average is GBX 233.66. The company has a debt-to-equity ratio of 103.31, a current ratio of 2.19 and a quick ratio of 1.26.

Insider Activity

In other Morgan Advanced Materials news, insider Pete Raby sold 52,587 shares of Morgan Advanced Materials stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of GBX 214 ($2.89), for a total transaction of £112,536.18 ($151,932.20). Also, insider Richard Armitage sold 26,348 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of GBX 212 ($2.86), for a total value of £55,857.76 ($75,412.12). Over the last ninety days, insiders have sold 142,204 shares of company stock worth $29,866,398. Company insiders own 1.69% of the company's stock.

About Morgan Advanced Materials

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013.