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 crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 284.48 ($3.48) and traded as low as GBX 250 ($3.06). Morgan Advanced Materials shares last traded at GBX 252.18 ($3.09), with a volume of 782,078 shares.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada decreased their price target on Morgan Advanced Materials from GBX 350 ($4.28) to GBX 320 ($3.92) and set an “outperform” rating for the company in a research note on Thursday, November 7th.

Morgan Advanced Materials Price Performance

The company has a debt-to-equity ratio of 93.89, a current ratio of 2.19 and a quick ratio of 1.26. The business’s 50 day moving average price is GBX 263 and its 200 day moving average price is GBX 284.48. The stock has a market capitalization of £717.60 million, a P/E ratio of 1,050.75, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34.

Morgan Advanced Materials Company Profile

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.