IG Design Group (LON:IGR) Shares Down 58.2% – Here’s Why

IG Design Group plc (LON:IGR)’s share price was down 58.2% during trading on Friday . The company traded as low as GBX 56.67 ($0.69) and last traded at GBX 59.60 ($0.73). Approximately 9,236,741 shares traded hands during trading, an increase of 876% from the average daily volume of 946,405 shares. The stock had previously closed at GBX 142.50 ($1.74).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reduced their price objective on IG Design Group from GBX 325 ($3.98) to GBX 270 ($3.30) and set a “buy” rating on the stock in a research note on Thursday, September 26th.

IG Design Group Trading Down 58.2 %

The company has a quick ratio of 0.85, a current ratio of 1.88 and a debt-to-equity ratio of 35.04. The stock’s 50 day moving average is GBX 133.97 and its 200-day moving average is GBX 159.96. The company has a market cap of £56.79 million, a PE ratio of 212.86 and a beta of 1.08.

About IG Design Group

IG Design Group plc, the largest consumer gift packaging business in the world, is a designer, innovator and manufacturer of products that help people celebrate life’s special occasions. Design Group works with more than 11,000 customers in over 80 countries throughout the UK, Europe, Australia and the USA.

Its products are found in over 210,000 retail outlets, including several of the world’s biggest retailers, for example Walmart, Target, Amazon, Costco, Lidl and Aldi.