Itaconix (LON:ITX) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

Itaconix plc (LON:ITX) crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of GBX 189.01 and traded as high as GBX 192. Itaconix shares last traded at GBX 192, with a volume of 42,661 shares traded.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 375 price objective on shares of Itaconix in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of GBX 375.

Itaconix Trading Down 5.8%

The firm has a market cap of £24.38 million, a price-to-earnings ratio of -19.65 and a beta of 1.05. The business has a 50 day moving average of GBX 188.71 and a 200 day moving average of GBX 140.35. The company has a quick ratio of 0.52, a current ratio of 2.97 and a debt-to-equity ratio of 24.36.

Itaconix (LON:ITX) last released its quarterly earnings results on Tuesday, September 8th. The company reported GBX (0.02) earnings per share (EPS) for the quarter. Itaconix had a negative return on equity of 15.42% and a negative net margin of 9.06%. On average, research analysts forecast that Itaconix plc will post -8.43 earnings per share for the current fiscal year.

Itaconix Company Profile

Itaconix uses its proprietary plant-based polymer technology platform to produce and sell specialty ingredients that improve the safety, performance, and sustainability of consumer products. The Company’s current ingredients are enabling and leading new generations of products in detergents, hygiene, and hair care. Itaconix’s contributions to the global low carbon economy are recognised by the London Stock Exchange’s Green Economy Mark.