Alphawave IP Group (LON:AWE) Shares Down 11.2% – Here’s What Happened

Alphawave IP Group plc (LON:AWE)’s stock price was down 11.2% during trading on Monday . The company traded as low as GBX 134.21 ($1.67) and last traded at GBX 135 ($1.68). Approximately 7,315,232 shares changed hands during mid-day trading, an increase of 44% from the average daily volume of 5,078,629 shares. The stock had previously closed at GBX 152 ($1.89).

Alphawave IP Group Price Performance

The stock’s 50 day moving average price is GBX 115.14 and its two-hundred day moving average price is GBX 123.56. The company has a debt-to-equity ratio of 53.89, a current ratio of 0.62 and a quick ratio of 15.51. The firm has a market capitalization of £999.80 million, a price-to-earnings ratio of -1,500.00, a PEG ratio of 0.44 and a beta of 0.89.

Insider Transactions at Alphawave IP Group

In related news, insider John Lofton Holt bought 415,416 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were acquired at an average price of GBX 23 ($0.29) per share, with a total value of £95,545.68 ($119,074.88). 43.96% of the stock is owned by corporate insiders.

Alphawave IP Group Company Profile

Faced with the exponential growth of data, Alphawave IP’s technology services a critical need: enabling data to travel faster, more reliably and with higher performance at lower power. Alphawave IP is a global leader in high-speed connectivity for the world’s technology infrastructure. Our IP solutions therefore meet the needs of global tier-one customers in data centers, compute, networking, AI, 5G, autonomous vehicles, and storage.