iomart Group (LON:IOM) Stock Price Down 16.1% – What’s Next?

iomart Group plc (LON:IOM)’s share price dropped 16.1% on Thursday . The company traded as low as GBX 24.81 ($0.33) and last traded at GBX 26.50 ($0.35). Approximately 1,134,147 shares changed hands during trading, an increase of 257% from the average daily volume of 317,316 shares. The stock had previously closed at GBX 31.60 ($0.42).

Wall Street Analysts Forecast Growth

Separately, Shore Capital reaffirmed a “buy” rating on shares of iomart Group in a research note on Friday, February 7th.

iomart Group Price Performance

The stock has a 50 day moving average of GBX 34.87 and a two-hundred day moving average of GBX 66.93. The company has a debt-to-equity ratio of 47.08, a quick ratio of 1.18 and a current ratio of 1.03. The firm has a market capitalization of £31.21 million, a P/E ratio of 4.81 and a beta of 0.58.

iomart Group Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 9th were given a GBX 1.30 ($0.02) dividend. This represents a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, January 9th. iomart Group’s dividend payout ratio is 90.68%.

About iomart Group

iomart Group plc (AIM: IOM) is one of the UK’s leading provider of secure cloud managed services, simplifying the complexities of modern technology for businesses. Our team of 650+ experts deliver cutting-edge solutions in cloud infrastructure, modern workplace management, and managed security services that enable our customers to innovate, protect, and scale their businesses.

We proudly hold one of the UK’s most extensive sets of Microsoft credentials, including Azure Expert MSP, five Solution Partner Designations, and membership in Microsoft’s Intelligent Security Association (MISA).