Strix Group (LON:KETL) Shares Down 1.6% – Here’s Why

Strix Group Plc (LON:KETL) shares were down 1.6% during mid-day trading on Tuesday . The company traded as low as GBX 37.35 and last traded at GBX 37.70. Approximately 2,708,957 shares traded hands during mid-day trading, an increase of 201% from the average daily volume of 898,777 shares. The stock had previously closed at GBX 38.30.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on KETL shares. Berenberg Bank dropped their price objective on shares of Strix Group from GBX 75 to GBX 70 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Stifel Nicolaus reissued a “buy” rating and issued a GBX 54 price objective on shares of Strix Group in a report on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, Strix Group has an average rating of “Buy” and a consensus target price of GBX 56.67.

Strix Group Price Performance

The company has a quick ratio of 1.19, a current ratio of 1.68 and a debt-to-equity ratio of 192.67. The firm has a market cap of £77.21 million, a PE ratio of 11.47 and a beta of 0.93. The firm’s fifty day simple moving average is GBX 40.60 and its two-hundred day simple moving average is GBX 42.47.

Insider Activity at Strix Group

In other news, insider Mark Adrian Kirkland sold 6,315 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of GBX 43, for a total value of £2,715.45. Company insiders own 1.66% of the company’s stock.

Strix Group Company Profile

Founded in 1982, Isle of Man based Strix, is a global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration.

Strix’s core product range comprises a variety of safety controls for small domestic appliances, primarily kettles. Kettle safety controls require precision engineering and intricate knowledge of material properties in order to repeatedly function correctly.

Strix has built up market leading capability and know-how, expanding into complementary products and technologies.