IG Design Group (LON:IGR) Trading Down 58.2% – Here’s What Happened

Shares of IG Design Group plc (LON:IGR) were down 58.2% during trading on Friday . The stock traded as low as GBX 56.67 ($0.69) and last traded at GBX 59.60 ($0.73). Approximately 9,236,741 shares were traded during trading, an increase of 876% from the average daily volume of 946,405 shares. The stock had previously closed at GBX 142.50 ($1.73).

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 on the stock in a research report on Thursday, September 26th.

IG Design Group Stock Down 58.2 %

The company’s fifty day simple moving average is GBX 132.46 and its 200-day simple moving average is GBX 159.27. The firm has a market capitalization of £56.79 million, a PE ratio of 212.86 and a beta of 1.08. The company has a debt-to-equity ratio of 35.04, a current ratio of 1.88 and a quick ratio of 0.85.

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.