Morgan Advanced Materials (LON:MGAM) Shares Pass Below 200-Day Moving Average – Time to Sell?

Shares of Morgan Advanced Materials plc (LON:MGAM) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 288.49 ($3.63) and traded as low as GBX 267 ($3.36). Morgan Advanced Materials shares last traded at GBX 268 ($3.37), with a volume of 149,784 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on MGAM. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Morgan Advanced Materials from GBX 335 ($4.22) to GBX 320 ($4.03) and set a “hold” rating for the company in a research note on Friday, September 13th. Royal Bank of Canada lowered their price target on Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.03) and set an “outperform” rating for the company in a report on Thursday, November 7th.

Morgan Advanced Materials Price Performance

The business’s 50 day moving average price is GBX 259.39 and its 200-day moving average price is GBX 287.88. The company has a quick ratio of 1.26, a current ratio of 2.19 and a debt-to-equity ratio of 93.89. The company has a market cap of £767.23 million, a PE ratio of 1,123.42, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34.

About Morgan Advanced Materials

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013.