Morgan Advanced Materials (LON:MGAM) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Morgan Advanced Materials plc (LON:MGAM)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 274.82 ($3.46) and traded as low as GBX 270.50 ($3.40). Morgan Advanced Materials shares last traded at GBX 272.50 ($3.43), with a volume of 1,139,115 shares.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada decreased their target price on Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.03) and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Citigroup lifted their price objective on Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the company a “buy” rating in a report on Thursday, January 23rd.

Morgan Advanced Materials Stock Down 1.6 %

The firm has a market capitalization of £759.68 million, a price-to-earnings ratio of 11.09, a P/E/G ratio of 0.51 and a beta of 1.34. The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31. The firm has a fifty day moving average price of GBX 267.14 and a 200 day moving average price of GBX 273.94.

About Morgan Advanced Materials

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013.