Iofina (LON:IOF) Stock Crosses Above 50-Day Moving Average – Here’s Why

Shares of Iofina plc (LON:IOF) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of GBX 47.88 and traded as high as GBX 57. Iofina shares last traded at GBX 56, with a volume of 1,181,223 shares trading hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised shares of Iofina to a “buy” rating and upped their target price for the company from GBX 45 to GBX 60 in a report on Thursday, April 30th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of GBX 60.

Iofina Stock Performance

The stock has a market capitalization of £107.15 million, a P/E ratio of 13.96 and a beta of 0.86. The stock’s 50-day simple moving average is GBX 47.88 and its 200 day simple moving average is GBX 33.84. The company has a debt-to-equity ratio of 11.96, a current ratio of 2.64 and a quick ratio of 1.56.

Iofina (LON:IOF) last issued its quarterly earnings data on Thursday, April 30th. The company reported GBX 4.10 earnings per share for the quarter. The company had revenue of GBX 6,651 million for the quarter. Iofina had a net margin of 11.84% and a return on equity of 14.89%. Research analysts expect that Iofina plc will post 1.8160377 EPS for the current fiscal year.

Insider Activity

In other news, insider Tim Hughes acquired 20,003 shares of Iofina stock in a transaction dated Monday, June 29th. The stock was bought at an average price of GBX 50 per share, for a total transaction of £10,001.50. 13.44% of the stock is currently owned by corporate insiders.

About Iofina

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.