discoverIE Group (LON:DSCV) Trading Up 1.3% – Here’s Why

discoverIE Group plc (LON:DSCV)’s stock price shot up 1.3% during trading on Wednesday . The stock traded as high as GBX 696.39 ($9.07) and last traded at GBX 684 ($8.90). 177,230 shares traded hands during trading, a decline of 15% from the average session volume of 208,074 shares. The stock had previously closed at GBX 675 ($8.79).

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DSCV. Shore Capital reiterated a “sell” rating on shares of discoverIE Group in a report on Tuesday, October 15th. Berenberg Bank reiterated a “buy” rating and set a GBX 950 ($12.37) price objective on shares of discoverIE Group in a research note on Tuesday, October 15th.

discoverIE Group Stock Performance

The company has a current ratio of 1.55, a quick ratio of 0.96 and a debt-to-equity ratio of 77.89. The company has a market capitalization of £656.23 million, a price-to-earnings ratio of 4,275.00 and a beta of 1.09. The stock has a 50-day simple moving average of GBX 622.25 and a 200-day simple moving average of GBX 673.83.

Insider Activity at discoverIE Group

In other news, insider Simon Gibbins purchased 7,822 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was acquired at an average cost of GBX 634 ($8.25) per share, for a total transaction of £49,591.48 ($64,555.43). In other discoverIE Group news, insider Clive Watson bought 252 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average cost of GBX 623 ($8.11) per share, with a total value of £1,569.96 ($2,043.69). Also, insider Simon Gibbins purchased 7,822 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was acquired at an average cost of GBX 634 ($8.25) per share, with a total value of £49,591.48 ($64,555.43). Insiders have purchased 12,200 shares of company stock valued at $7,529,854 over the last ninety days. Corporate insiders own 4.50% of the company’s stock.

discoverIE Group Company Profile

discoverIE Group plc designs, manufactures, and supplies components for electronic applications worldwide. It operates in two segments, Magnetics & Controls; and Sensing & Connectivity. The company offers magnetic and power components, embedded computing and interface controls, and sensing and connectivity components for industrial applications.