IP Group (LON:IPO) Shares Up 6.5% – Here’s Why

IP Group Plc (LON:IPO) rose 6.5% during mid-day trading on Monday . The company traded as high as GBX 58.20 ($0.78) and last traded at GBX 57.70 ($0.77). Approximately 5,936,260 shares traded hands during trading, an increase of 14% from the average daily volume of 5,186,240 shares. The stock had previously closed at GBX 54.20 ($0.72).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank dropped their price objective on shares of IP Group from GBX 126 to GBX 100 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, IP Group presently has a consensus rating of “Buy” and an average target price of GBX 100.

IP Group Trading Up 8.1%

The company has a market capitalization of £524.67 million, a price-to-earnings ratio of -410.37 and a beta of 1.36. The company has a quick ratio of 8.59, a current ratio of 9.28 and a debt-to-equity ratio of 13.99. The company’s 50 day simple moving average is GBX 56.66 and its two-hundred day simple moving average is GBX 50.20.

IP Group (LON:IPO) last announced its earnings results on Wednesday, September 17th. The company reported GBX (4.55) earnings per share for the quarter. IP Group had a net margin of 106.78% and a negative return on equity of 19.85%. As a group, research analysts anticipate that IP Group Plc will post 19.6245031 earnings per share for the current fiscal year.

IP Group Company Profile

IP Group accelerates the impact of science for a better future. As the most active UK based, early-stage science investor, we develop and support some of the world’s most exciting businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK’s largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions.