IG Design Group (LON:IGR) Stock Price Down 57.4% – Here’s What Happened

IG Design Group plc (LON:IGR)’s stock price fell 57.4% during trading on Friday . The company traded as low as GBX 57 ($0.69) and last traded at GBX 60.70 ($0.74). 4,995,326 shares traded hands during mid-day trading, an increase of 742% from the average session volume of 592,954 shares. The stock had previously closed at GBX 142.50 ($1.73).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group decreased 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 research report on Thursday, September 26th.

IG Design Group Trading Down 58.2 %

The firm has a market capitalization of £56.79 million, a price-to-earnings ratio of 212.86 and a beta of 1.08. The company has a debt-to-equity ratio of 35.04, a quick ratio of 0.85 and a current ratio of 1.88. The company has a 50-day moving average price of GBX 132.46 and a 200-day moving average price of GBX 159.27.

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.