Itaconix (LON:ITX) Reaches New 1-Year High – Still a Buy?

Itaconix plc (LON:ITX)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as GBX 218 and last traded at GBX 208, with a volume of 110443 shares trading hands. The stock had previously closed at GBX 197.50.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group boosted their price objective on Itaconix from GBX 325 to GBX 375 and gave the company a “buy” rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of GBX 375.

Itaconix Price Performance

The company has a debt-to-equity ratio of 24.58, a quick ratio of 0.52 and a current ratio of 3.43. The stock has a market capitalization of £28.05 million, a price-to-earnings ratio of -20.39 and a beta of 0.97. The business’s 50 day simple moving average is GBX 139.79 and its 200-day simple moving average is GBX 121.33.

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.