Itaconix (LON:ITX) Shares Up 14% – Time to Buy?

Itaconix plc (LON:ITX)’s stock price shot up 14% on Thursday . The company traded as high as GBX 200 and last traded at GBX 196.65. 97,501 shares changed hands during trading, an increase of 404% from the average daily volume of 19,360 shares. The stock had previously closed at GBX 172.50.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their price target on shares of Itaconix from GBX 325 to GBX 375 and gave the stock a “buy” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of GBX 375.

Itaconix Price Performance

The firm has a market capitalization of £28.05 million, a price-to-earnings ratio of -20.39 and a beta of 1.04. The company has a current ratio of 3.43, a quick ratio of 0.52 and a debt-to-equity ratio of 24.58. The business has a 50-day moving average price of GBX 141.67 and a two-hundred day moving average price of GBX 121.94.

Itaconix Company Profile

Itaconix uses its proprietary plant-based polymer technology platform to produce and sell specialty ingredients that improve the safety, performance, and sustainability of consumer products. The Company’s current ingredients are enabling and leading new generations of products in detergents, hygiene, and hair care. Itaconix’s contributions to the global low carbon economy are recognised by the London Stock Exchange’s Green Economy Mark.