Evoke (LON:EVOK) Shares Down 9.6% Following Analyst Downgrade

Evoke plc (LON:EVOK) shares were down 9.6% on Friday after Berenberg Bank downgraded the stock to a hold rating. Berenberg Bank now has a GBX 35 price target on the stock, down from their previous price target of GBX 95. Evoke traded as low as GBX 26.10 and last traded at GBX 26.50. Approximately 8,449,295 shares traded hands during mid-day trading, an increase of 230% from the average daily volume of 2,564,155 shares. The stock had previously closed at GBX 29.30.

Several other brokerages also recently commented on EVOK. JPMorgan Chase & Co. dropped their price objective on shares of Evoke from GBX 82 to GBX 66 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Evoke from GBX 88 to GBX 108 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 87.25.

Evoke Trading Down 9.6%

The company’s 50-day simple moving average is GBX 42.33 and its 200-day simple moving average is GBX 53.94. The stock has a market capitalization of £119.17 million, a price-to-earnings ratio of -1.06 and a beta of 0.84.

About Evoke