Dowlais Group (LON:DWL) Shares Up 7.7% – Time to Buy?

Dowlais Group plc (LON:DWL) shares shot up 7.7% during trading on Wednesday . The stock traded as high as GBX 76 ($0.95) and last traded at GBX 73.60 ($0.92). 100,944,828 shares traded hands during mid-day trading, an increase of 386% from the average session volume of 20,770,328 shares. The stock had previously closed at GBX 68.35 ($0.85).

Analysts Set New Price Targets

Several research firms have commented on DWL. Citigroup upgraded Dowlais Group to a “neutral” rating and set a GBX 58 ($0.72) price target for the company in a report on Thursday, October 24th. Berenberg Bank restated a “hold” rating and issued a GBX 62 ($0.77) price target on shares of Dowlais Group in a report on Monday, November 25th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of GBX 94 ($1.17).

Dowlais Group Stock Performance

The firm has a market cap of £1.04 billion and a PE ratio of -206.76. The stock has a fifty day moving average price of GBX 63.61 and a 200-day moving average price of GBX 60.90.

About Dowlais Group

Dowlais Group Plc manufactures and sells automotive parts in the Americas, Europe, and Asia. The company engages in developing, manufacturing, and supplying automotive drive systems for conventional and electric vehicles. It manufactures sideshafts, propshafts, and constant velocity joints for passenger vehicles; and AWD systems and eDrive systems, as well as provides component solutions to systems, including control software.