Workspace Group (LON:WKP) Stock Passes Below 200-Day Moving Average – Here’s Why

Shares of Workspace Group Plc (LON:WKP) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 382.97 and traded as low as GBX 336. Workspace Group shares last traded at GBX 338.20, with a volume of 230,787 shares trading hands.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a GBX 400 target price on shares of Workspace Group in a research note on Monday, May 11th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 424 price target on shares of Workspace Group in a research report on Friday, May 8th. Berenberg Bank reiterated a “buy” rating and issued a GBX 503 price target on shares of Workspace Group in a research report on Friday, April 17th. Finally, Stifel Nicolaus decreased their price target on Workspace Group from GBX 550 to GBX 500 and set a “buy” rating for the company in a research report on Friday, April 17th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Workspace Group has a consensus rating of “Moderate Buy” and an average price target of GBX 465.40.

Workspace Group Price Performance

The company has a current ratio of 1.47, a quick ratio of 0.11 and a debt-to-equity ratio of 61.92. The firm has a market cap of £659.55 million, a price-to-earnings ratio of -8.68, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11. The stock has a 50-day moving average of GBX 347.76 and a two-hundred day moving average of GBX 382.97.

About Workspace Group

Workspace is London's leading owner and operator of flexible workspace, currently managing 4.7 million sq. ft. of sustainable space at 79 locations in London and the South East. We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more. That in environments they tailor themselves, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential.