Volex (LON:VLX) Shares Up 18.3% - Here's Why

Volex plc (LON:VLX - Get Free Report) shares shot up 18.3% during mid-day trading on Thursday . The company traded as high as GBX 394 ($5.41) and last traded at GBX 373.31 ($5.12). 4,640,254 shares traded hands during mid-day trading, an increase of 620% from the average session volume of 644,282 shares. The stock had previously closed at GBX 315.50 ($4.33).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group decreased their target price on Volex from GBX 430 ($5.90) to GBX 340 ($4.66) and set a "buy" rating for the company in a research report on Tuesday, April 8th.

Volex Trading Up 5.1%

The company has a market cap of £902.23 million, a PE ratio of 20.94 and a beta of 1.03. The company has a debt-to-equity ratio of 64.83, a quick ratio of 1.04 and a current ratio of 1.53. The company has a 50 day simple moving average of GBX 280.51 and a two-hundred day simple moving average of GBX 273.63.

About Volex

Volex plc AIM: VLX is a driving force in integrated manufacturing for mission-critical applications and a global leader in power and data connectivity solutions. Our diverse operations support international blue-chip customers in five key sectors: Electric Vehicles, Consumer Electricals, Medical, Complex Industrial Technology and Off-Highway.