IG Design Group (LON:IGR) Shares Cross Below 200 Day Moving Average – Time to Sell?

IG Design Group plc (LON:IGR) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 160.49 ($1.95) and traded as low as GBX 144.50 ($1.76). IG Design Group shares last traded at GBX 146 ($1.78), with a volume of 173,425 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group cut their price objective on shares of IG Design Group from GBX 325 ($3.95) to GBX 270 ($3.29) and set a “buy” rating for the company in a research report on Thursday, September 26th.

IG Design Group Stock 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 company has a fifty day simple moving average of GBX 132.46 and a 200-day simple moving average of GBX 159.27. The firm has a market cap of £56.79 million, a P/E 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.