Workspace Group (LON:WKP) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of Workspace Group Plc (LON:WKP) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 401.52 and traded as high as GBX 403. Workspace Group shares last traded at GBX 396, with a volume of 162,426 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WKP. Deutsche Bank Aktiengesellschaft cut their price target on Workspace Group from GBX 520 to GBX 480 and set a “buy” rating on the stock in a report on Friday, December 5th. Jefferies Financial Group decreased their price objective on Workspace Group from GBX 516 to GBX 490 and set a “buy” rating for the company in a report on Thursday, November 20th. Finally, Berenberg Bank restated a “buy” rating and issued a GBX 487 target price on shares of Workspace Group in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of GBX 489.25.

Workspace Group Stock Down 1.3%

The firm’s 50 day simple moving average is GBX 413.47 and its 200-day simple moving average is GBX 401.17. The company has a current ratio of 1.47, a quick ratio of 0.11 and a debt-to-equity ratio of 61.92. The stock has a market capitalization of £730.70 million, a price-to-earnings ratio of -9.62, a price-to-earnings-growth ratio of 1.54 and a beta of 1.07.

Insider Transactions at Workspace Group

In related news, insider Rosie Shapland bought 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were acquired at an average price of GBX 383 per share, for a total transaction of £34,470. Insiders own 5.30% of the company’s stock.

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.