Nexteq (LON:NXQ) Shares Down 19.1% – What’s Next?

Nexteq plc (LON:NXQ)’s share price dropped 19.1% during mid-day trading on Thursday . The stock traded as low as GBX 71.80 ($0.93) and last traded at GBX 72.04 ($0.93). Approximately 196,874 shares traded hands during mid-day trading, an increase of 34% from the average daily volume of 147,105 shares. The stock had previously closed at GBX 89 ($1.15).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a GBX 200 ($2.59) price objective on shares of Nexteq in a report on Tuesday, September 10th.

Nexteq Stock Performance

The firm’s fifty day moving average is GBX 92.60 and its 200 day moving average is GBX 114.97. The firm has a market cap of £46.30 million, a P/E ratio of 608.33 and a beta of 1.36.

About Nexteq

Nexteq plc operates as a business-to-business technology design and supply chain partner to industrial equipment manufacturers North America, Europe, Asia, Australia, rest of the United Kingdom, and internationally. It operates through two divisions, Quixant and Densitron. The Quixant segment engages in the design, development, and manufacture of gaming platforms and display solutions, such as cabinets and other computer platforms, as well as software for the casino gaming and slot machine industry.