IG Design Group (LON:IGR) Stock Price Down 58.6% – Here’s What Happened

IG Design Group plc (LON:IGR) dropped 58.6% during mid-day trading on Friday . The company traded as low as GBX 57 ($0.69) and last traded at GBX 59 ($0.72). Approximately 5,778,589 shares traded hands during trading, an increase of 778% from the average daily volume of 658,226 shares. The stock had previously closed at GBX 142.50 ($1.73).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reduced their price objective on shares of IG Design Group from GBX 325 ($3.95) to GBX 270 ($3.29) and set a “buy” rating for the company in a report on Thursday, September 26th.

IG Design Group Price Performance

The stock has a market capitalization of £56.79 million, a price-to-earnings ratio of 212.86 and a beta of 1.08. The business’s fifty day moving average price is GBX 132.46 and its 200-day moving average price is GBX 159.27. 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.