discoverIE Group (LON:DSCV) Shares Down 1.5% – What’s Next?

discoverIE Group plc (LON:DSCV)’s share price dropped 1.5% during trading on Thursday . The stock traded as low as GBX 569 ($7.61) and last traded at GBX 577 ($7.72). 115,793 shares changed hands during trading, a decline of 42% from the average daily volume of 201,303 shares. The stock had previously closed at GBX 586 ($7.84).

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 1,030 ($13.78) target price on shares of discoverIE Group in a research report on Monday, June 17th.

discoverIE Group Stock Down 1.5 %

The company has a 50 day moving average of GBX 625.06 and a 200-day moving average of GBX 688.59. The company has a market capitalization of £553.57 million, a P/E ratio of 3,606.25 and a beta of 1.10. The company has a debt-to-equity ratio of 77.89, a current ratio of 1.55 and a quick ratio of 0.96.

Insider Activity

In related news, insider Clive Watson acquired 252 shares of discoverIE Group stock in a transaction on Tuesday, August 13th. The shares were acquired at an average cost of GBX 623 ($8.33) per share, with a total value of £1,569.96 ($2,100.00). In other news, insider Clive Watson bought 252 shares of discoverIE Group stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of GBX 623 ($8.33) per share, for a total transaction of £1,569.96 ($2,100.00). Also, insider Simon Gibbins bought 5,005 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of GBX 612 ($8.19) per share, with a total value of £30,630.60 ($40,971.91). Over the last three months, insiders have acquired 9,383 shares of company stock valued at $5,633,766. Company insiders own 4.50% of the company’s stock.

discoverIE Group Company Profile

discoverIE Group plc designs, manufactures, and supplies components for electronic applications worldwide. It operates in two segments, Magnetics & Controls; and Sensing & Connectivity. The company offers magnetic and power components, embedded computing and interface controls, and sensing and connectivity components for industrial applications.