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

Iofina plc (LON:IOF)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 36.29 and traded as high as GBX 59.88. Iofina shares last traded at GBX 59.88, with a volume of 302,797 shares.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lifted their price target on shares of Iofina from GBX 60 to GBX 65 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of GBX 65.

Iofina Stock Up 5.1%

The business has a 50-day moving average price of GBX 51.22 and a 200-day moving average price of GBX 36.29. The company has a market capitalization of £114.88 million, a price-to-earnings ratio of 14.97 and a beta of 0.86. The company has a quick ratio of 1.56, a current ratio of 2.64 and a debt-to-equity ratio of 11.96.

Iofina (LON:IOF) last released its quarterly earnings results on Thursday, April 30th. The company reported GBX 4.10 earnings per share for the quarter. Iofina had a return on equity of 14.89% and a net margin of 11.84%.The business had revenue of GBX 6,651 million during the quarter. As a group, equities analysts anticipate that Iofina plc will post 1.8160377 earnings per share for the current fiscal year.

Insider Transactions at Iofina

In other news, insider Tim Hughes acquired 20,003 shares of Iofina stock in a transaction on Monday, June 29th. The stock was bought at an average cost of GBX 50 per share, with a total value of £10,001.50. Insiders own 13.44% of the company’s stock.

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.