Iofina (LON:IOF) Shares Pass Above 200 Day Moving Average – Here’s Why

Shares of Iofina plc (LON:IOF) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 24.36 and traded as high as GBX 26.50. Iofina shares last traded at GBX 26.39, with a volume of 142,857 shares.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised their price target on Iofina from GBX 40 to GBX 45 and gave the company a “buy” rating in a report on Monday, December 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of GBX 45.

Iofina Stock Up 1.5%

The firm’s 50-day simple moving average is GBX 26.06 and its 200 day simple moving average is GBX 24.36. The company has a market cap of £50.63 million, a P/E ratio of 10.56 and a beta of 0.71. The company has a debt-to-equity ratio of 11.11, a quick ratio of 1.56 and a current ratio of 2.60.

Iofina Company Profile

Iofina plc is a vertically integrated company that specialises in the production of Iodine and the manufacturing of specialty chemical products and derivatives. Iofina is the second largest producer of iodine in North America and operates the manufacturing entities, Iofina Resources, and Iofina Chemical.