Workspace Group (LON:WKP) Share Price Breaks Below 200 Day Moving Average – What’s Next?

Workspace Group Plc (LON:WKP)’s stock price crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of GBX 350.23 and traded as low as GBX 327.60. Workspace Group shares last traded at GBX 332.20, with a volume of 6,976,483 shares traded.

Analyst Ratings Changes

A number of research firms recently commented on WKP. Jefferies Financial Group reissued a “hold” rating and issued a GBX 367 target price on shares of Workspace Group in a research note on Thursday, October 15th. Berenberg Bank dropped their price target on Workspace Group from GBX 427 to GBX 418 and set a “buy” rating for the company in a research note on Friday, October 16th. Finally, Peel Hunt reiterated a “hold” rating and issued a GBX 350 price objective on shares of Workspace Group in a report on Friday, July 24th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 407.50.

Workspace Group Trading Up 0.5%

The stock has a market capitalization of £639.98 million, a P/E ratio of -5.31, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09. The company has a current ratio of 0.42, a quick ratio of 0.11 and a debt-to-equity ratio of 59.71. The stock’s fifty day moving average price is GBX 358.45 and its two-hundred day moving average price is GBX 350.23.

Workspace Group Company Profile

Workspace is London's leading owner and operator of flexible workspace, currently managing 4.7 million sq. ft. of sustainable space at 79 locations in London and the South East. We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more. That in environments they tailor themselves, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential.