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

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

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group cut their price objective on Volex from GBX 430 ($5.90) to GBX 340 ($4.67) and set a "buy" rating on the stock in a report on Tuesday, April 8th.

Volex Stock Up 18.3%

The business has a fifty day moving average price of GBX 274.61 and a two-hundred day moving average price of GBX 272.35. The company has a current ratio of 1.53, a quick ratio of 1.04 and a debt-to-equity ratio of 64.83. The company has a market cap of £865.83 million, a price-to-earnings ratio of 20.09 and a beta of 1.03.

Volex Company Profile

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.

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