Itaconix (LON:ITX) Share Price Passes Above 50 Day Moving Average – What’s Next?

Itaconix plc (LON:ITX) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 133.25 and traded as high as GBX 175. Itaconix shares last traded at GBX 171.50, with a volume of 6,069 shares changing hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group boosted their price target on shares of Itaconix from GBX 325 to GBX 375 and gave the stock a “buy” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of GBX 375.

Itaconix Trading Up 0.9%

The company’s 50 day simple moving average is GBX 134.53 and its 200 day simple moving average is GBX 119.66. The firm has a market cap of £23.47 million, a price-to-earnings ratio of -17.06 and a beta of 0.97. The company has a debt-to-equity ratio of 24.58, a current ratio of 3.43 and a quick ratio of 0.52.

About Itaconix

Itaconix uses its proprietary plant-based polymer technology platform to produce and sell specialty ingredients that improve the safety, performance, and sustainability of consumer products. The Company’s current ingredients are enabling and leading new generations of products in detergents, hygiene, and hair care. Itaconix’s contributions to the global low carbon economy are recognised by the London Stock Exchange’s Green Economy Mark.