Zotefoams (LON:ZTF) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Zotefoams plc (LON:ZTF) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 404.03 and traded as low as GBX 349.65. Zotefoams shares last traded at GBX 354, with a volume of 282,705 shares changing hands.

Wall Street Analyst Weigh In

ZTF has been the topic of several research analyst reports. Canaccord Genuity Group upped their price objective on shares of Zotefoams from GBX 640 to GBX 675 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Berenberg Bank lifted their target price on shares of Zotefoams from GBX 540 to GBX 590 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of GBX 605.

Zotefoams Trading Down 3.6%

The stock has a 50 day moving average of GBX 403.26 and a 200 day moving average of GBX 403.20. The company has a debt-to-equity ratio of 43.83, a current ratio of 1.02 and a quick ratio of 0.67. The firm has a market cap of £163.04 million, a P/E ratio of 290.96, a PEG ratio of 0.66 and a beta of 1.10.

Zotefoams (LON:ZTF) last issued its quarterly earnings results on Tuesday, March 17th. The company reported GBX 38 earnings per share (EPS) for the quarter. Zotefoams had a return on equity of 18.25% and a net margin of 14.28%.

Zotefoams Company Profile

Zotefoams plc, together with its subsidiaries, manufactures, distributes, and sells polyolefin block foams in the United Kingdom, rest of Europe, North America, and internationally. The company operates through Polyolefin Foams, High-Performance Products, and MuCell Extrusion LLC segments. It offers AZOTE, a polyolefin foam under the Plastazote, Evazote, and Supazote, AZOTE Adapt brands; and various high-performance foams manufactured from fluoropolymers, engineering polymers, and specialty elastomers under the ZOTEK brand; and Ecozote foam for plastic products that offers circularity and reduce reliance on fossil fuel-derived raw materials.