Auction Technology Group (LON:ATG) Hits New 52-Week High – Here’s Why

Auction Technology Group plc (LON:ATG) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 638 ($7.94) and last traded at GBX 637 ($7.93), with a volume of 431126 shares. The stock had previously closed at GBX 605 ($7.53).

Wall Street Analysts Forecast Growth

ATG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on Auction Technology Group from GBX 555 ($6.91) to GBX 695 ($8.65) and gave the company an “overweight” rating in a report on Thursday, December 5th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 710 ($8.84) target price on shares of Auction Technology Group in a research note on Friday, November 29th.

Auction Technology Group Price Performance

The firm has a fifty day moving average price of GBX 549.21 and a two-hundred day moving average price of GBX 477.15. The company has a quick ratio of 1.36, a current ratio of 0.69 and a debt-to-equity ratio of 22.80. The stock has a market capitalization of £775.99 million, a P/E ratio of 7,962.50 and a beta of 1.29.

Insider Buying and Selling at Auction Technology Group

In related news, insider Tom Hargreaves sold 230,000 shares of the stock in a transaction on Thursday, November 28th. The stock was sold at an average price of GBX 510 ($6.35), for a total transaction of £1,173,000 ($1,460,408.37). 4.49% of the stock is owned by company insiders.

Auction Technology Group Company Profile

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”).