IG Design Group (LON:IGR) Stock Price Down 58.6% – Here’s Why

Shares of IG Design Group plc (LON:IGR) traded down 58.6% during mid-day trading on Friday . The company traded as low as GBX 57 ($0.70) and last traded at GBX 59 ($0.72). 5,778,589 shares traded hands during mid-day trading, an increase of 778% from the average session volume of 658,226 shares. The stock had previously closed at GBX 142.50 ($1.74).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group dropped their target price on shares of IG Design Group from GBX 325 ($3.98) to GBX 270 ($3.30) and set a “buy” rating on the stock in a report on Thursday, September 26th.

IG Design Group Stock Performance

The stock’s 50-day simple moving average is GBX 133.97 and its 200-day simple moving average is GBX 159.96. The stock has a market cap of £55.70 million, a price-to-earnings ratio of 208.77 and a beta of 1.08. The company has a current ratio of 1.88, a quick ratio of 0.85 and a debt-to-equity ratio of 35.04.

IG Design Group Company Profile

IG Design Group plc, the largest consumer gift packaging business in the world, is a designer, innovator and manufacturer of products that help people celebrate life’s special occasions. Design Group works with more than 11,000 customers in over 80 countries throughout the UK, Europe, Australia and the USA.

Its products are found in over 210,000 retail outlets, including several of the world’s biggest retailers, for example Walmart, Target, Amazon, Costco, Lidl and Aldi.