Morgan Advanced Materials (OTCMKTS:MCRUF) Hits New 52-Week High – Still a Buy?

Morgan Advanced Materials (OTCMKTS:MCRUF) shares hit a new 52-week high during trading on Thursday . The company traded as high as $3.23 and last traded at $3.23, with a volume of 3000 shares. The stock had previously closed at $2.95.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada cut Morgan Advanced Materials from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 25th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Morgan Advanced Materials presently has an average rating of “Hold”.

Morgan Advanced Materials Stock Up 9.5%

The firm has a fifty day moving average price of $2.75 and a 200 day moving average price of $2.84.

Morgan Advanced Materials Company Profile

Morgan Advanced Materials is a global engineering group specializing in the design, development and manufacture of advanced ceramic, carbon and composite materials. Founded in 1856 and headquartered in Windsor, England, the company serves a broad range of end markets by providing high-performance materials and components that enable critical applications in industries such as energy, electronics, aerospace, transportation and medical equipment.

The company’s portfolio includes engineered ceramics for thermal management and insulation, carbon materials for electrical and mechanical applications, and composite assemblies for wear-resistant and refractory uses.