IG Design Group (LON:IGR) Shares Down 58.2% – Here’s What Happened

IG Design Group plc (LON:IGR) shares dropped 58.2% during mid-day trading on Saturday . The stock traded as low as GBX 56.67 ($0.69) and last traded at GBX 59.60 ($0.72). Approximately 9,236,741 shares changed hands during trading, an increase of 876% from the average daily volume of 946,405 shares. The stock had previously closed at GBX 142.50 ($1.73).

Analyst Ratings Changes

Separately, Canaccord Genuity Group cut their target price on shares of IG Design Group from GBX 325 ($3.95) to GBX 270 ($3.28) and set a “buy” rating on the stock in a research note on Thursday, September 26th.

IG Design Group Stock Performance

The firm has a market cap of £56.79 million, a price-to-earnings ratio of 212.86 and a beta of 1.08. The company has a quick ratio of 0.85, a current ratio of 1.88 and a debt-to-equity ratio of 35.04. The company has a 50 day moving average of GBX 132.46 and a 200 day moving average of GBX 158.92.

IG Design Group Company Profile

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.