Ashtead Technology (LON:AT) Shares Down 1.6% – Here’s Why

Ashtead Technology Holdings Plc (LON:AT) shares dropped 1.6% during mid-day trading on Tuesday . The company traded as low as GBX 532 ($6.64) and last traded at GBX 550 ($6.86). Approximately 250,263 shares changed hands during mid-day trading, The stock had previously closed at GBX 559 ($6.98).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank increased their price target on Ashtead Technology from GBX 775 ($9.67) to GBX 800 ($9.99) and gave the company a “buy” rating in a research note on Thursday, October 24th.

Ashtead Technology Stock Down 1.6 %

The stock has a market capitalization of £441.65 million, a price-to-earnings ratio of 1,833.33 and a beta of 0.28. The company has a quick ratio of 1.46, a current ratio of 1.82 and a debt-to-equity ratio of 70.83. The firm has a 50-day moving average of GBX 543.86 and a two-hundred day moving average of GBX 628.88.

Insider Transactions at Ashtead Technology

In other Ashtead Technology news, insider William(Bill) Mervyn FrewCarey Shannon acquired 13,000 shares of the business’s stock in a transaction that occurred on Thursday, November 28th. The shares were purchased at an average price of GBX 550 ($6.86) per share, with a total value of £71,500 ($89,241.14). 3.28% of the stock is currently owned by company insiders.

Ashtead Technology Company Profile

Ashtead Technology Holdings Plc provides subsea equipment rental solutions for the offshore energy sector in Europe, the Americas, the Asia-Pacific, and the Middle East. The company offers survey and robotics equipment comprising geophysical, hydrographic, metocean, land surveying, positioning, ROV sensors, non-destructive testing, subsea inspection, remote visual inspection, and environmental products.