iomart Group (LON:IOM) Stock Price Up 11.2% – Time to Buy?

Shares of iomart Group plc (LON:IOM) shot up 11.2% during mid-day trading on Tuesday . The company traded as high as GBX 28.50 and last traded at GBX 27.37. 302,401 shares were traded during trading, a decline of 15% from the average session volume of 354,045 shares. The stock had previously closed at GBX 24.60.

Analysts Set New Price Targets

Separately, Shore Capital reiterated a “buy” rating on shares of iomart Group in a research note on Monday, July 28th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

iomart Group Stock Down 1.2%

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’s 50 day moving average price is GBX 20.87 and its 200 day moving average price is GBX 24.64. The firm has a market capitalization of £30.15 million, a price-to-earnings ratio of -0.55 and a beta of 0.58.

Insider Activity

In other iomart Group news, insider Karyn Lamont purchased 53,000 shares of the stock in a transaction on Friday, October 3rd. The shares were bought at an average cost of GBX 18 per share, with a total value of £9,540. 23.53% of the stock is currently owned by company insiders.

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).