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

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

Wall Street Analyst Weigh In

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

IG Design Group Stock Down 58.2 %

The firm’s 50-day simple moving average is GBX 132.46 and its 200-day simple moving average is GBX 158.92. The company 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.

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.