Itaconix (LON:ITX) Stock Price Down 8.9% – Here’s What Happened

Itaconix plc (LON:ITX)’s share price traded down 8.9% during mid-day trading on Tuesday . The company traded as low as GBX 148 and last traded at GBX 153. Approximately 250,552 shares were traded during mid-day trading, an increase of 1,156% from the average daily volume of 19,942 shares. The stock had previously closed at GBX 168.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group increased their price objective on shares of Itaconix from GBX 325 to GBX 375 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of GBX 375.

Itaconix Trading Down 8.9%

The firm has a market cap of £20.63 million, a P/E ratio of -15.00 and a beta of 0.97. The stock has a fifty day simple moving average of GBX 112.09 and a 200 day simple moving average of GBX 112.57. The company has a debt-to-equity ratio of 24.58, a quick ratio of 0.52 and a current ratio of 3.43.

Insider Activity

In other Itaconix news, insider Peter Nieuwenhuizen acquired 3,400 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were bought at an average cost of GBX 109 per share, with a total value of £3,706. 77.49% of the stock is currently owned by insiders.

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.