Kitwave Group (LON:KITW) Shares Up 2% – Here’s What Happened

Kitwave Group plc (LON:KITW) shares shot up 2% during trading on Thursday . The company traded as high as GBX 336.50 ($4.39) and last traded at GBX 336.48 ($4.39). 130,583 shares changed hands during trading, a decline of 37% from the average session volume of 208,881 shares. The stock had previously closed at GBX 330 ($4.31).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reissued a “buy” rating and set a GBX 455 ($5.94) price target on shares of Kitwave Group in a report on Tuesday, September 3rd.

Kitwave Group Price Performance

The stock has a 50-day moving average of GBX 327.35 and a two-hundred day moving average of GBX 343.37. The company has a current ratio of 1.02, a quick ratio of 0.65 and a debt-to-equity ratio of 103.83. The firm has a market cap of £267.87 million, a price-to-earnings ratio of 1,387.50 and a beta of 0.78.

Kitwave Group Company Profile

Kitwave Group plc engages in the wholesale business in the United Kingdom. It operates in three divisions: Ambient, Frozen & Chilled, and Foodservice. The Ambient division supplies confectionery, soft drinks, crisps and snacks, and tobacco. This division serves independent convenience stores, vending operators, national retailers, and other UK wholesalers.