Auction Technology Group (LON:ATG) Trading 0.3% Higher – Here’s Why

Auction Technology Group plc (LON:ATG) shot up 0.3% on Friday . The stock traded as high as GBX 586 ($7.13) and last traded at GBX 580 ($7.06). 770,234 shares changed hands during mid-day trading, an increase of 21% from the average session volume of 635,071 shares. The stock had previously closed at GBX 578 ($7.03).

Wall Street Analysts Forecast Growth

ATG has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Auction Technology Group from GBX 555 ($6.75) to GBX 695 ($8.46) and gave the company an “overweight” rating in a research report on Thursday, December 5th. Berenberg Bank reissued a “buy” rating and issued a GBX 710 ($8.64) price objective on shares of Auction Technology Group in a research note on Friday, November 29th.

Auction Technology Group Price Performance

The stock has a market cap of £706.56 million, a PE ratio of 7,250.00 and a beta of 1.29. The firm’s 50-day moving average price is GBX 526.11 and its two-hundred day moving average price is GBX 470.03. The company has a current ratio of 0.69, a quick ratio of 1.36 and a debt-to-equity ratio of 22.80.

Insiders Place Their Bets

In other news, insider Tom Hargreaves sold 230,000 shares of Auction Technology Group stock in a transaction that occurred on Thursday, November 28th. The shares were sold at an average price of GBX 510 ($6.21), for a total value of £1,173,000 ($1,427,180.92). 4.49% of the stock is owned by company insiders.

About Auction Technology Group

Auction Technology Group plc (“ATG”) is the operator of the world’s leading marketplaces and auction services for curated online auctions, seamlessly connecting bidders from around the world to over 3,800 trusted auction houses across two major sectors: Industrial & Commercial (“I&C”) and Art & Antiques (“A&A”).