Iofina (LON:IOF) Stock Crosses Above 200-Day Moving Average – Here’s Why

Iofina plc (LON:IOF)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 21.35 ($0.29) and traded as high as GBX 25.70 ($0.35). Iofina shares last traded at GBX 24.70 ($0.34), with a volume of 196,731 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a GBX 37.50 ($0.51) price target on shares of Iofina in a research note on Thursday, April 17th.

Iofina Stock Performance

The firm’s 50 day moving average price is GBX 22.75 and its two-hundred day moving average price is GBX 21.35. The company has a debt-to-equity ratio of 11.11, a quick ratio of 1.56 and a current ratio of 2.60. The firm has a market cap of £59.30 million, a PE ratio of 17.33 and a beta of 0.71.

Iofina Company Profile

Iofina plc is a vertically integrated company that specialises in the production of Iodine and the manufacturing of specialty chemical products and derivatives. Iofina is the second largest producer of iodine in North America and operates the manufacturing entities, Iofina Resources, and Iofina Chemical.