ASOS (LON:ASC) Shares Up 15.9% – Here’s Why

ASOS Plc (LON:ASC) shares rose 15.9% on Wednesday . The company traded as high as GBX 248.50 and last traded at GBX 245.66. Approximately 327,141 shares were traded during trading, a decline of 97% from the average daily volume of 12,943,890 shares. The stock had previously closed at GBX 212.

Wall Street Analyst Weigh In

Separately, Shore Capital Group reissued a “buy” rating and issued a GBX 400 target price on shares of ASOS in a research report on Thursday, December 4th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 383.33.

ASOS Price Performance

The stock has a 50 day simple moving average of GBX 279.94 and a two-hundred day simple moving average of GBX 268.44. The firm has a market cap of £289.64 million, a PE ratio of -0.97, a price-to-earnings-growth ratio of -1.26 and a beta of 2.30. The company has a debt-to-equity ratio of 342.80, a quick ratio of 0.39 and a current ratio of 1.02.

Insider Buying and Selling

In related news, insider William Barker bought 132,455 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were purchased at an average cost of GBX 381 per share, with a total value of £504,653.55. Insiders bought 223,531 shares of company stock worth $76,003,437 over the last quarter. 18.40% of the stock is owned by company insiders.

ASOS Company Profile

ASOS Plc operates as an online fashion retailer in the United Kingdom, the United States, Australia, France, Germany, Spain, Italy, Sweden, the Netherlands, Denmark, Poland, and internationally. It offers womenswear and menswear products. The company sells its products under the ASOS Design, ASOS Edition, ASOS Luxe, ASOS 4505, Collusion, Reclaimed Vintage, Topshop, Topman, Miss Selfridge, HIIT, AsYou, Dark Future, UNRVLLD/SPPLY, Crooked Tongues, Daysocial, Actual, and Weekend Collective brands, as well as through third-party brands.