Auction Technology Group (LON:ATG) Trading 12.6% Higher – Time to Buy?

Auction Technology Group plc (LON:ATG)’s stock price shot up 12.6% on Saturday . The stock traded as high as GBX 370 and last traded at GBX 362. 1,920,300 shares changed hands during mid-day trading, an increase of 100% from the average session volume of 958,306 shares. The stock had previously closed at GBX 321.50.

Wall Street Analyst Weigh In

ATG has been the subject of a number of recent analyst reports. Berenberg Bank reduced their price objective on shares of Auction Technology Group from GBX 560 to GBX 460 and set a “buy” rating for the company in a research report on Thursday, November 27th. JPMorgan Chase & Co. increased their target price on Auction Technology Group from GBX 690 to GBX 695 and gave the stock an “overweight” rating in a research note on Friday, November 28th. Royal Bank Of Canada reduced their price target on Auction Technology Group from GBX 415 to GBX 315 and set a “sector perform” rating for the company in a report on Tuesday, December 2nd. Finally, Peel Hunt dropped their price objective on Auction Technology Group from GBX 730 to GBX 460 and set a “buy” rating on the stock in a report on Tuesday, December 2nd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of GBX 549.

Auction Technology Group Stock Performance

The stock’s 50-day moving average price is GBX 291.14 and its 200-day moving average price is GBX 339.95. The company has a debt-to-equity ratio of 18.16, a quick ratio of 1.36 and a current ratio of 0.62. The company has a market capitalization of £438.34 million, a price-to-earnings ratio of -3.06 and a beta of 1.29.

About Auction Technology Group

Auction Technology Group plc (“ATG”) is the operator of the world’s leading marketplaces and auction services for curated online auctions, seamlessly connecting bidders from around the world to over 3,800 trusted auction houses across two major sectors: Industrial & Commercial (“I&C”) and Art & Antiques (“A&A”).

The Group powers eight online marketplaces and listing sites using its proprietary auction platform technology, hosting in excess of 70,000 live and timed auctions each year. ATG has been supporting the auction industry since 1971 and the Group has offices in the UK, US and Germany.