Auction Technology Group (LON:ATG) Trading Up 21.4% – Here’s Why

Auction Technology Group plc (LON:ATG) shares traded up 21.4% during mid-day trading on Monday . The company traded as high as GBX 332.50 and last traded at GBX 329. 3,112,714 shares changed hands during mid-day trading, a decline of 3% from the average session volume of 3,193,660 shares. The stock had previously closed at GBX 270.95.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Berenberg Bank reduced their price objective on shares of Auction Technology Group from GBX 560 to GBX 460 and set a “buy” rating for the company in a research report on Thursday, November 27th. JPMorgan Chase & Co. lifted their price target on shares of Auction Technology Group from GBX 690 to GBX 695 and gave the stock an “overweight” rating in a research note on Friday, November 28th. Peel Hunt reduced their price target on shares of Auction Technology Group from GBX 730 to GBX 460 and set a “buy” rating for the company in a research report on Tuesday, December 2nd. Finally, Royal Bank Of Canada cut their target price on Auction Technology Group from GBX 415 to GBX 315 and set a “sector perform” rating on the stock in a research report on Tuesday, December 2nd. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 549.

Auction Technology Group Stock Performance

The company has a current ratio of 0.62, a quick ratio of 1.36 and a debt-to-equity ratio of 18.16. The stock has a market cap of £396.63 million, a price-to-earnings ratio of -2.78 and a beta of 1.29. The stock’s 50 day moving average is GBX 287.65 and its two-hundred day moving average is GBX 346.56.

About Auction Technology Group

Auction Technology Group plc (“ATG”) is the operator of the world’s leading marketplaces and auction services for curated online auctions, seamlessly connecting bidders from around the world to over 3,800 trusted auction houses across two major sectors: Industrial & Commercial (“I&C”) and Art & Antiques (“A&A”).

The Group powers eight online marketplaces and listing sites using its proprietary auction platform technology, hosting in excess of 70,000 live and timed auctions each year. ATG has been supporting the auction industry since 1971 and the Group has offices in the UK, US and Germany.