ASOS (LON:ASC) Stock Price Up 18.4% – Here’s Why

ASOS Plc (LON:ASC)’s stock price rose 18.4% during trading on Saturday . The company traded as high as GBX 318.60 ($4.11) and last traded at GBX 301.80 ($3.90). Approximately 1,883,284 shares changed hands during trading, an increase of 268% from the average daily volume of 511,206 shares. The stock had previously closed at GBX 255 ($3.29).

Analysts Set New Price Targets

Separately, Shore Capital raised shares of ASOS to a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of GBX 391 ($5.05).

ASOS Stock Up 18.4 %

The company’s 50 day simple moving average is GBX 352.73 and its 200-day simple moving average is GBX 384.02. The company has a current ratio of 1.61, a quick ratio of 0.39 and a debt-to-equity ratio of 187.55. The firm has a market cap of £361.77 million, a P/E ratio of -1.07, a PEG ratio of -1.26 and a beta of 2.86.

ASOS Company Profile

ASOS Plc operates as an online fashion retailer in the United Kingdom, the United States, Australia, France, Germany, Spain, Italy, Sweden, the Netherlands, Denmark, Poland, and internationally. It offers womenswear and menswear products. The company sells its products under the ASOS Design, ASOS Edition, ASOS Luxe, ASOS 4505, Collusion, Reclaimed Vintage, Topshop, Topman, Miss Selfridge, HIIT, AsYou, Dark Future, UNRVLLD/SPPLY, Crooked Tongues, Daysocial, Actual, and Weekend Collective brands, as well as through third-party brands.