Workspace Group (LON:WKP) Stock Passes Below 200-Day Moving Average – Here’s Why

Workspace Group Plc (LON:WKP)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 382.97 and traded as low as GBX 336. Workspace Group shares last traded at GBX 338.20, with a volume of 230,787 shares.

Wall Street Analysts Forecast Growth

WKP has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a GBX 400 price objective on shares of Workspace Group in a research note on Monday, May 11th. Stifel Nicolaus reduced their price objective on Workspace Group from GBX 550 to GBX 500 and set a “buy” rating for the company in a research note on Friday, April 17th. Berenberg Bank reissued a “buy” rating and issued a GBX 503 price objective on shares of Workspace Group in a research note on Friday, April 17th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 424 price objective on shares of Workspace Group in a research note on Friday, May 8th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 465.40.

Workspace Group Price Performance

The stock has a 50 day moving average price of GBX 347.76 and a two-hundred day moving average price of GBX 382.97. The company has a debt-to-equity ratio of 61.92, a quick ratio of 0.11 and a current ratio of 1.47. The company has a market capitalization of £659.55 million, a PE ratio of -8.68, a P/E/G ratio of 1.54 and a beta of 1.11.

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.