IP Group (LON:IPO) Shares Break Above Two Hundred Day Moving Average – What’s Next?

IP Group Plc (LON:IPO) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of GBX 64.38 and traded as high as GBX 73.60. IP Group shares last traded at GBX 73.60, with a volume of 2,223,185 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Berenberg Bank reaffirmed a “buy” rating and set a GBX 119 price target on shares of IP Group in a research note on Tuesday, September 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 110 target price on shares of IP Group in a research report on Wednesday, September 16th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, IP Group currently has a consensus rating of “Buy” and a consensus target price of GBX 114.50.

IP Group Stock Down 3.1%

The firm has a market capitalization of £645.79 million, a P/E ratio of 10.30 and a beta of 1.27. The firm’s 50 day moving average is GBX 69.35 and its two-hundred day moving average is GBX 64.56. The company has a debt-to-equity ratio of 11.90, a current ratio of 36.57 and a quick ratio of 8.59.

IP Group (LON:IPO) last posted its quarterly earnings results on Tuesday, September 15th. The company reported GBX 3.53 earnings per share (EPS) for the quarter. IP Group had a net margin of 321.64% and a return on equity of 14.25%. Research analysts predict that IP Group Plc will post 19.6245031 EPS for the current year.

Insider Activity at IP Group

In other IP Group news, insider Greg Smith purchased 45,000 shares of IP Group stock in a transaction that occurred on Wednesday, August 5th. The stock was acquired at an average price of GBX 68 per share, for a total transaction of £30,600. Also, insider Michael Queen purchased 200,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were acquired at an average cost of GBX 66 per share, for a total transaction of £132,000. In the last ninety days, insiders bought 271,368 shares of company stock worth $18,053,024. Insiders own 1.57% of the company’s stock.

IP Group Company Profile

IP Group accelerates the impact of science for a better future. As the most active UK based, early-stage science investor, we develop and support some of the world’s most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK’s largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions. Our specialist investment team combines sector expertise with an international approach.