Marks Electrical Group (LON:MRK) Shares Down 2% – Here’s Why

Marks Electrical Group PLC (LON:MRK) shares dropped 2% on Wednesday . The stock traded as low as GBX 48 and last traded at GBX 48. Approximately 2,683 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 42,027 shares. The stock had previously closed at GBX 49.

Analysts Set New Price Targets

MRK has been the topic of several research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 55 target price on shares of Marks Electrical Group in a research report on Monday, April 13th. Shore Capital Group reaffirmed a “hold” rating on shares of Marks Electrical Group in a research report on Monday, April 13th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of GBX 52.50.

Marks Electrical Group Stock Down 0.9%

The firm has a 50-day simple moving average of GBX 48.09 and a 200 day simple moving average of GBX 46.78. The company has a debt-to-equity ratio of 31.31, a current ratio of 1.42 and a quick ratio of 0.62. The company has a market capitalization of £50.63 million, a PE ratio of -47.15 and a beta of 0.67.

About Marks Electrical Group

Marks Electrical Group PLC, together with its subsidiary, engages in the supply of domestic electrical appliances and consumer electronics in the United Kingdom. The company also provides removal and recycling of packaging; collection and recycling of old appliances; and extended warranties and installation services. It sells its products through online platform. The company was formerly known as Marks Electrical Holding Limited and changed its name to Marks Electrical Group PLC in October 2021. Marks Electrical Group PLC was founded in 1987 and is headquartered in Leicester, United Kingdom.