discoverIE Group (LON:DSCV) Shares Up 2.2% – Here’s Why

discoverIE Group plc (LON:DSCV)’s stock price was up 2.2% during trading on Wednesday . The company traded as high as GBX 568 ($7.33) and last traded at GBX 567 ($7.31). Approximately 100,022 shares traded hands during trading, a decline of 73% from the average daily volume of 364,642 shares. The stock had previously closed at GBX 555 ($7.16).

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Shore Capital reiterated a “hold” rating on shares of discoverIE Group in a report on Thursday, January 30th. Berenberg Bank reiterated a “buy” rating and set a GBX 950 ($12.25) target price on shares of discoverIE Group in a research note on Monday, December 9th.

discoverIE Group Trading Down 6.0 %

The business’s 50 day moving average price is GBX 576.55 and its two-hundred day moving average price is GBX 630.21. The company has a debt-to-equity ratio of 77.88, a quick ratio of 0.96 and a current ratio of 1.55. The company has a market capitalization of £497.25 million, a price-to-earnings ratio of 32.04 and a beta of 1.09.

Insiders Place Their Bets

In other discoverIE Group news, insider Bruce Thompson purchased 12,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were purchased at an average cost of GBX 544 ($7.02) per share, for a total transaction of £65,280 ($84,210.53). Also, insider Clive Watson acquired 5,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of GBX 543 ($7.00) per share, for a total transaction of £27,150 ($35,023.22). Insiders bought 17,175 shares of company stock worth $9,349,400 over the last ninety days. Company insiders own 4.50% of the company’s stock.

About discoverIE Group

discoverIE Group plc is an international group of businesses that design and manufacture innovative electronic components for industrial use. The Group provides application-specific components to original equipment manufacturers (“OEMs”) internationally, with a focus on key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, transportation and industrial & connectivity.

The Group employs c.4,500 people across 20 countries.