iomart Group (LON:IOM) Shares Down 16.1% – Here’s Why

iomart Group plc (LON:IOM) shares traded down 16.1% during mid-day trading on Friday . The company traded as low as GBX 24.81 ($0.33) and last traded at GBX 26.50 ($0.35). 1,134,147 shares traded hands during trading, an increase of 257% from the average session volume of 317,316 shares. The stock had previously closed at GBX 31.60 ($0.42).

Wall Street Analysts Forecast Growth

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

iomart Group Price Performance

The firm has a 50 day simple moving average of GBX 34.46 and a 200-day simple moving average of GBX 66.32. The company has a quick ratio of 1.18, a current ratio of 1.03 and a debt-to-equity ratio of 47.08. The company has a market cap of £31.21 million, a PE ratio of 4.81 and a beta of 0.58.

iomart Group Cuts Dividend

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

iomart Group Company Profile

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).