Alphawave IP Group (LON:AWE) Trading Up 14.9% – Time to Buy?

Shares of Alphawave IP Group plc (LON:AWE) shot up 14.9% on Wednesday . The company traded as high as GBX 144.20 ($1.78) and last traded at GBX 143.20 ($1.77). 3,649,579 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 5,461,295 shares. The stock had previously closed at GBX 124.60 ($1.54).

Alphawave IP Group Stock Performance

The company has a 50-day moving average of GBX 114.59 and a 200-day moving average of GBX 123.54. The company has a market cap of £1.11 billion, a PE ratio of -1,668.89, a PEG ratio of 0.44 and a beta of 0.89. The company has a quick ratio of 15.51, a current ratio of 0.62 and a debt-to-equity ratio of 53.89.

Insiders Place Their Bets

In other Alphawave IP Group news, insider John Lofton Holt bought 415,416 shares of Alphawave IP Group stock in a transaction dated Monday, December 2nd. The stock was bought at an average cost of GBX 23 ($0.28) per share, with a total value of £95,545.68 ($118,015.91). Insiders own 43.96% of the company’s stock.

About Alphawave IP Group

Faced with the exponential growth of data, Alphawave IP’s technology services a critical need: enabling data to travel faster, more reliably and with higher performance at lower power. Alphawave IP is a global leader in high-speed connectivity for the world’s technology infrastructure. Our IP solutions therefore meet the needs of global tier-one customers in data centers, compute, networking, AI, 5G, autonomous vehicles, and storage.