Morgan Advanced Materials (LON:MGAM) Shares Cross Below 200-Day Moving Average – What’s Next?

Morgan Advanced Materials plc (LON:MGAM) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 284.48 ($3.48) and traded as low as GBX 250 ($3.06). Morgan Advanced Materials shares last traded at GBX 252.18 ($3.09), with a volume of 782,078 shares traded.

Analyst Ratings Changes

Separately, Royal Bank of Canada dropped their price target on shares of Morgan Advanced Materials from GBX 350 ($4.28) to GBX 320 ($3.92) and set an “outperform” rating on the stock in a research note on Thursday, November 7th.

Morgan Advanced Materials Stock Performance

The business has a 50 day moving average of GBX 263.36 and a 200-day moving average of GBX 283.60. The company has a market capitalization of £733.60 million, a P/E ratio of 1,074.17, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The company has a debt-to-equity ratio of 93.89, a quick ratio of 1.26 and a current ratio of 2.19.

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.