Iofina (LON:IOF) Shares Pass Above 200 Day Moving Average – Time to Sell?

Iofina plc (LON:IOF) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 26.78 and traded as high as GBX 49. Iofina shares last traded at GBX 48, with a volume of 723,649 shares changing hands.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised Iofina to a “buy” rating and increased their target price for the stock from GBX 45 to GBX 60 in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Iofina presently has an average rating of “Buy” and an average price target of GBX 60.

Iofina Stock Performance

The company has a 50 day simple moving average of GBX 30.88 and a 200 day simple moving average of GBX 26.78. The stock has a market cap of £92.09 million, a price-to-earnings ratio of 12.00 and a beta of 1.19. The company has a quick ratio of 1.56, a current ratio of 2.64 and a debt-to-equity ratio of 11.96.

Iofina (LON:IOF) last posted its earnings results on Thursday, April 30th. The company reported GBX 4.10 EPS for the quarter. Iofina had a return on equity of 14.89% and a net margin of 11.84%.The firm had revenue of GBX 6,651 million during the quarter. As a group, equities research analysts forecast that Iofina plc will post 1.8160377 EPS for the current year.

About Iofina

Iofina plc is a vertically integrated company that specialises in the production of Iodine and the manufacturing of specialty chemical products and derivatives. Iofina is the second largest producer of iodine in North America and operates the manufacturing entities, Iofina Resources, and Iofina Chemical.