The Beauty Tech Group (LON:TBTG) Stock Price Up 12% on Analyst Upgrade

The Beauty Tech Group (LON:TBTG) shares shot up 12% on Thursday after Berenberg Bank raised their price target on the stock from GBX 550 to GBX 600. Berenberg Bank currently has a buy rating on the stock. The Beauty Tech Group traded as high as GBX 414 and last traded at GBX 392. 2,402,856 shares changed hands during mid-day trading, an increase of 681% from the average daily volume of 307,822 shares. The stock had previously closed at GBX 350.

Separately, Canaccord Genuity Group began coverage on shares of The Beauty Tech Group in a research note on Monday, July 27th. They set a “buy” rating and a GBX 545 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of GBX 572.50.

The Beauty Tech Group Stock Performance

The firm has a market capitalization of £416.31 million and a P/E ratio of 35.64. The company has a 50-day moving average price of GBX 349.10 and a 200-day moving average price of GBX 323.23.

The Beauty Tech Group (LON:TBTG) last issued its quarterly earnings data on Thursday, September 17th. The beauty technology company reported GBX 11.80 earnings per share (EPS) for the quarter.

About The Beauty Tech Group

The Beauty Tech Group is a UK-headquartered beauty technology company focused on developing, marketing and selling clinically backed at-home beauty devices and related skincare products. The group operates a portfolio of category-leading brands, including CurrentBody Skin, ZIIP Beauty and Tria Laser, and offers products built around core aesthetic technologies used in professional settings, including LED light therapy, radio frequency, microcurrent and laser treatments.