IP Group (LON:IPO) Shares Cross Above Two Hundred Day Moving Average of $61.68

IP Group Plc (LON:IPO) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $61.68 and traded as high as $70.90. IP Group shares last traded at $66.50, with a volume of 820,368 shares trading hands.

IPO has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price target on shares of IP Group from GBX 80 ($0.98) to GBX 95 ($1.17) and gave the company a “buy” rating in a report on Friday, July 24th. Berenberg Bank raised their price objective on shares of IP Group from GBX 95 ($1.17) to GBX 100 ($1.23) and gave the stock a “buy” rating in a report on Monday, June 1st.

The company has a market capitalization of $706.46 million and a price-to-earnings ratio of -9.37. The company has a debt-to-equity ratio of 9.69, a quick ratio of 5.43 and a current ratio of 5.49. The company’s fifty day simple moving average is GBX 64.39 and its two-hundred day simple moving average is GBX 61.68.

In other IP Group news, insider Greg Smith sold 36,406 shares of the firm’s stock in a transaction on Friday, June 19th. The shares were sold at an average price of GBX 63 ($0.78), for a total transaction of £22,935.78 ($28,225.18).

About IP Group (LON:IPO)

IP Group Plc is a private equity and venture capital firm specializing in seed, early stage, start-up, incubation, and mature financing. The firm also provides seed capital financing to spin out companies from the universities. It seeks to invest in the life sciences, physical sciences, energy & renewables, medical equipment and supplies, healthcare, technology, cleantech, intellectual property, pharmaceuticals & biotechnology, information technology & communications, and chemicals & materials.

Featured Article: What causes a stock to be most active?

Receive News & Ratings for IP Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IP Group and related companies with MarketBeat.com's FREE daily email newsletter.