Workspace Group (LON:WKP) Share Price Passes Below 200-Day Moving Average - Time to Sell?

Key Points

• Workspace Group Plc shares traded below their 200-day moving average for the first time on Thursday, reaching a low of GBX 390 ($5.24) while the average stood at GBX 410.25 ($5.51).
• Despite the recent dip, Peel Hunt has maintained a "buy" rating on the stock with a price target of GBX 500, indicating investor confidence in its potential recovery.
• The company, a leading operator of flexible workspaces in London, manages 4.7 million sq. ft. across 79 locations, housing approximately 4,000 brands in various sectors.

Workspace Group Plc (LON:WKP - Get Free Report) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 410.25 ($5.51) and traded as low as GBX 390 ($5.24). Workspace Group shares last traded at GBX 400 ($5.38), with a volume of 295,392 shares traded.

Wall Street Analyst Weigh In

Separately, Peel Hunt restated a "buy" rating and set a GBX 500 target price on shares of Workspace Group in a report on Thursday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of GBX 500.

Workspace Group Price Performance

The company has a current ratio of 1.23, a quick ratio of 0.11 and a debt-to-equity ratio of 57.43. The stock has a market cap of £757.48 million, a PE ratio of 14,071.43, a P/E/G ratio of 1.54 and a beta of 1.04. The company's 50 day moving average is GBX 401.04 and its 200-day moving average is GBX 410.25.

Workspace Group Company Profile

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.

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