ASOS (LON:ASC) Trading 18.4% Higher – Here’s Why

ASOS Plc (LON:ASC)’s stock price was up 18.4% during mid-day trading on Saturday . The company traded as high as GBX 318.60 ($4.11) and last traded at GBX 301.80 ($3.90). Approximately 1,883,284 shares changed hands during trading, an increase of 268% from the average daily volume of 511,206 shares. The stock had previously closed at GBX 255 ($3.29).

Wall Street Analysts Forecast Growth

Separately, Shore Capital raised ASOS to a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of GBX 391 ($5.05).

ASOS Stock Up 18.4 %

The firm has a market cap of £361.77 million, a PE ratio of -1.07, a PEG ratio of -1.26 and a beta of 2.86. The company has a debt-to-equity ratio of 187.55, a quick ratio of 0.39 and a current ratio of 1.61. The company’s 50-day simple moving average is GBX 352.73 and its two-hundred day simple moving average is GBX 384.02.

About ASOS

ASOS Plc operates as an online fashion retailer in the United Kingdom, the United States, Australia, France, Germany, Spain, Italy, Sweden, the Netherlands, Denmark, Poland, and internationally. It offers womenswear and menswear products. The company sells its products under the ASOS Design, ASOS Edition, ASOS Luxe, ASOS 4505, Collusion, Reclaimed Vintage, Topshop, Topman, Miss Selfridge, HIIT, AsYou, Dark Future, UNRVLLD/SPPLY, Crooked Tongues, Daysocial, Actual, and Weekend Collective brands, as well as through third-party brands.