Morgan Advanced Materials (LON:MGAM) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Morgan Advanced Materials plc (LON:MGAMGet Free Report)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 220.59 and traded as low as GBX 211. Morgan Advanced Materials shares last traded at GBX 214.50, with a volume of 409,412 shares.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 230 price objective on shares of Morgan Advanced Materials in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Morgan Advanced Materials presently has a consensus rating of “Hold” and a consensus price target of GBX 235.

Get Our Latest Stock Report on Morgan Advanced Materials

Morgan Advanced Materials Trading Up 0.2%

The company has a debt-to-equity ratio of 113.93, a quick ratio of 1.26 and a current ratio of 1.23. The company has a 50-day simple moving average of GBX 221.20 and a 200 day simple moving average of GBX 220.59. The company has a market capitalization of £592.91 million, a P/E ratio of 28.60, a P/E/G ratio of 0.51 and a beta of 1.22.

Insider Activity

In other news, insider Richard Armitage sold 6,251 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of GBX 223, for a total value of £13,939.73. Insiders own 1.25% of the company’s stock.

Morgan Advanced Materials Company Profile

(Get Free Report)

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013. Morgan Advanced Materials plc was founded in 1856 and is headquartered in Windsor, the United Kingdom.

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