iomart Group (LON:IOM) Stock Price Down 8% – Here’s What Happened

iomart Group plc (LON:IOM)’s share price fell 8% during trading on Friday . The stock traded as low as GBX 21.48 ($0.29) and last traded at GBX 22.44 ($0.30). 757,198 shares traded hands during mid-day trading, an increase of 117% from the average session volume of 348,357 shares. The stock had previously closed at GBX 24.40 ($0.32).

Wall Street Analyst Weigh In

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

iomart Group Trading Down 8.0 %

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 business’s fifty day moving average is GBX 32.77 and its 200-day moving average is GBX 63.16. The stock has a market capitalization of £26.43 million, a PE ratio of 4.07 and a beta of 0.58.

iomart Group Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 9th were issued a dividend of GBX 1.30 ($0.02) per share. The ex-dividend date was Thursday, January 9th. This represents a dividend yield of 1.38%. iomart Group’s 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).