Mitie Group (OTCMKTS:MITFY) Shares Gap Up – Time to Buy?

Mitie Group PLC. (OTCMKTS:MITFY) gapped up before the market opened on Thursday. The stock had previously closed at $11.14, but opened at $11.67. Mitie Group shares last traded at $11.67, with a volume of 218 shares.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank downgraded Mitie Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy”.

Mitie Group Stock Performance

The firm has a fifty day simple moving average of $11.08 and a 200-day simple moving average of $9.88. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.92.

About Mitie Group

Mitie Group plc is a United Kingdom-based strategic outsourcing and facilities management company. It helps organizations operate and maintain their buildings, infrastructure and estates, providing services that combine technical expertise, property management and day-to-day operational support.

The company’s activities include engineering and maintenance, energy and decarbonization services, security, cleaning, front-of-house support, catering and workplace management. Mitie also provides specialist services for critical infrastructure, including utilities, transport and defense-related facilities, as well as public-sector and commercial properties.

Mitie serves customers primarily across the United Kingdom and has a long history in facilities and technical services.