Evoke (LON:EVOK) Stock Price Down 9.6% on Analyst Downgrade

Evoke plc (LON:EVOK)’s stock price fell 9.6% during mid-day trading 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. 8,449,295 shares changed hands during mid-day trading, an increase of 230% from the average session volume of 2,564,155 shares. The stock had previously closed at GBX 29.30.

Other equities analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Evoke from GBX 88 to GBX 108 and gave the company a “buy” rating in a research report on Wednesday, August 13th. JPMorgan Chase & Co. lowered their target price 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. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Evoke currently has an average rating of “Moderate Buy” and a consensus target price of GBX 87.25.

Evoke Price Performance

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

About Evoke