Mitie Group (LON:MTO) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Mitie Group plc (LON:MTO) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 114.75 ($1.49) and traded as high as GBX 118.80 ($1.54). Mitie Group shares last traded at GBX 117.60 ($1.52), with a volume of 49,414,660 shares trading hands.

Analyst Ratings Changes

Separately, Berenberg Bank started coverage on shares of Mitie Group in a research report on Tuesday, January 28th. They issued a “buy” rating and a GBX 160 ($2.07) price target for the company.

Mitie Group Trading Up 0.3 %

The company has a 50 day moving average of GBX 116.13 and a 200 day moving average of GBX 114.75. The firm has a market cap of £1.48 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 85.41.

Insider Activity

In other news, insider Derek Mapp bought 8,802 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was bought at an average price of GBX 111 ($1.44) per share, for a total transaction of £9,770.22 ($12,649.17). 5.65% of the stock is owned by corporate insiders.

About Mitie Group

Mitie Group plc, together with its subsidiaries, provides facilities management and professional services in the United Kingdom and internationally. The company operates in four segments: Business Services, Technical Services, Central Government & Defense (CG&D), Communities. The company provides decarbonization, electrical grid connections, emission intelligence, energy and carbon, EV fleets, and heat solutions, as well as solar energy; cleaning and hygiene, engineering maintenance, integrated facilities management, landscape, and waste management services; project and workplace services; and Fire & security systems, front of house, intelligence, vetting, and security guarding service.