ASOS (LON:ASC) Trading Up 18.4% – Here’s Why

ASOS Plc (LON:ASC) shares were up 18.4% during mid-day trading on Friday . The stock traded as high as GBX 318.60 ($4.11) and last traded at GBX 301.80 ($3.90). Approximately 1,883,284 shares traded hands during trading, an increase of 268% from the average daily volume of 511,206 shares. The stock had previously closed at GBX 255 ($3.29).

Wall Street Analyst Weigh In

Separately, Shore Capital upgraded ASOS to a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, ASOS currently has a consensus rating of “Hold” and a consensus price target of GBX 391 ($5.05).

ASOS Trading Up 18.4 %

The stock has a market capitalization of £361.77 million, a P/E ratio of -1.07, a price-to-earnings-growth ratio of -1.26 and a beta of 2.86. The stock has a 50-day moving average price of GBX 352.73 and a two-hundred day moving average price of GBX 384.16. The company has a debt-to-equity ratio of 187.55, a quick ratio of 0.39 and a current ratio of 1.61.

About ASOS

ASOS Plc operates as an online fashion retailer in the United Kingdom, the United States, Australia, France, Germany, Spain, Italy, Sweden, the Netherlands, Denmark, Poland, and internationally. It offers womenswear and menswear products. The company sells its products under the ASOS Design, ASOS Edition, ASOS Luxe, ASOS 4505, Collusion, Reclaimed Vintage, Topshop, Topman, Miss Selfridge, HIIT, AsYou, Dark Future, UNRVLLD/SPPLY, Crooked Tongues, Daysocial, Actual, and Weekend Collective brands, as well as through third-party brands.