Devolver Digital (LON:DEVO) Shares Down 8.7% – What’s Next?

Devolver Digital, Inc. (LON:DEVO)’s share price dropped 8.7% on Wednesday . The stock traded as low as GBX 6.87 and last traded at GBX 7.19. 1,406,425 shares changed hands during mid-day trading, an increase of 310% from the average session volume of 342,964 shares. The stock had previously closed at GBX 7.88.

Analysts Set New Price Targets

DEVO has been the subject of several recent analyst reports. Shore Capital Group reissued a “buy” rating and set a GBX 27 target price on shares of Devolver Digital in a research note on Friday, June 26th. Berenberg Bank reiterated a “buy” rating and set a GBX 28 price target on shares of Devolver Digital in a report on Wednesday, July 1st. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 27.50.

Devolver Digital Trading Down 3.4%

The business’s 50-day simple moving average is GBX 17.04 and its two-hundred day simple moving average is GBX 21.11. The firm has a market capitalization of £34.70 million, a price-to-earnings ratio of -2.06 and a beta of -0.43. The company has a quick ratio of 4.85, a current ratio of 1.78 and a debt-to-equity ratio of 0.57.

Devolver Digital Company Profile

Devolver Digital Inc develops, publishes video games for PC and mobile devices in the United States and internationally. Devolver Digital Inc was incorporated in 2008 and is based in Austin, Texas.