Morgan Advanced Materials (LON:MGAM) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Morgan Advanced Materials plc (LON:MGAM) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 220.68 and traded as low as GBX 206. Morgan Advanced Materials shares last traded at GBX 211, with a volume of 745,497 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MGAM shares. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 230 target price on shares of Morgan Advanced Materials in a report on Thursday, May 7th. Citigroup boosted their price target on shares of Morgan Advanced Materials from GBX 230 to GBX 235 and gave the company a “buy” rating in a research note on Thursday, March 12th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of GBX 235.

Morgan Advanced Materials Stock Down 0.9%

The company has a debt-to-equity ratio of 113.93, a quick ratio of 1.26 and a current ratio of 1.23. The company has a market cap of £583.24 million, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 0.51 and a beta of 1.20. The stock’s fifty day moving average is GBX 221.66 and its two-hundred day moving average is GBX 220.68.

Insider Transactions at Morgan Advanced Materials

In other Morgan Advanced Materials news, insider Richard Armitage sold 33,105 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of GBX 223, for a total transaction of £73,824.15. Company insiders own 1.25% of the company’s stock.

About Morgan Advanced Materials

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013. Morgan Advanced Materials plc was founded in 1856 and is headquartered in Windsor, the United Kingdom.