Mitie Group (LON:MTO) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Mitie Group plc (LON:MTO)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 114.75 ($1.49) and traded as high as GBX 118.80 ($1.54). Mitie Group shares last traded at GBX 117.60 ($1.52), with a volume of 49,414,660 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank assumed coverage on shares of Mitie Group in a research report on Tuesday, January 28th. They set a “buy” rating and a GBX 160 ($2.07) price target on the stock.

Mitie Group Stock Down 1.4 %

The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41. The company has a market capitalization of £1.46 billion, a P/E ratio of 12.01, a P/E/G ratio of 10.10 and a beta of 1.41. The firm has a fifty day simple moving average of GBX 116.17 and a 200-day simple moving average of GBX 114.73.

Insiders Place Their Bets

In other news, insider Derek Mapp bought 8,802 shares of the stock in a transaction on Thursday, January 2nd. The stock was purchased at an average price of GBX 111 ($1.44) per share, for a total transaction of £9,770.22 ($12,645.90). Corporate insiders own 5.65% of the company’s stock.

About Mitie Group

Mitie Group plc, together with its subsidiaries, provides facilities management and professional services in the United Kingdom and internationally. The company operates in four segments: Business Services, Technical Services, Central Government & Defense (CG&D), Communities. The company provides decarbonization, electrical grid connections, emission intelligence, energy and carbon, EV fleets, and heat solutions, as well as solar energy; cleaning and hygiene, engineering maintenance, integrated facilities management, landscape, and waste management services; project and workplace services; and Fire & security systems, front of house, intelligence, vetting, and security guarding service.