Workspace Group (LON:WKP) Sets New 1-Year Low - Time to Sell?

Key Points

• Hit a new 52-week low: LON:WKP dropped to an intraday low of GBX 323 and last traded at GBX 328 on heavy volume (4,304,721 shares), well below the prior close of GBX 373.60.
• Analysts remain bullish: Four analysts rate the stock a Buy, Berenberg reissued a Buy with a GBX 487 target, and the consensus price target is GBX 489.25—substantially above the current price.
• Fundamental and technical concerns: The stock trades below its 50- and 200-day moving averages, has a negative P/E (-8.06), a low quick ratio (0.11) and a debt-to-equity ratio of 61.92, suggesting leverage and short-term liquidity pressure.

Workspace Group Plc (LON:WKP - Get Free Report) hit a new 52-week low during trading on Friday . The company traded as low as GBX 323 and last traded at GBX 328, with a volume of 4304721 shares changing hands. The stock had previously closed at GBX 373.60.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reissued a "buy" rating and set a GBX 487 price objective on shares of Workspace Group in a report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Workspace Group has a consensus rating of "Buy" and an average price target of GBX 489.25.

Workspace Group Price Performance

The stock has a market cap of £612.27 million, a price-to-earnings ratio of -8.06, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. The stock has a fifty day simple moving average of GBX 386.83 and a 200-day simple moving average of GBX 395.45. The company has a current ratio of 1.47, a quick ratio of 0.11 and a debt-to-equity ratio of 61.92.

About Workspace Group

Workspace is London's leading owner and operator of flexible workspace, currently managing 4.7 million sq. ft. of sustainable space at 79 locations in London and the South East. We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more. That in environments they tailor themselves, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential.

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