Kitwave Group (LON:KITW) Trading Down 4.8% – Here’s What Happened

Shares of Kitwave Group plc (LON:KITW) dropped 4.8% on Friday . The company traded as low as GBX 279.30 ($3.41) and last traded at GBX 295.60 ($3.61). Approximately 199,099 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 222,303 shares. The stock had previously closed at GBX 310.50 ($3.79).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a GBX 495 ($6.04) price objective on shares of Kitwave Group in a research report on Thursday, November 7th.

Kitwave Group Stock Down 4.8 %

The company has a debt-to-equity ratio of 103.83, a quick ratio of 0.65 and a current ratio of 1.02. The company has a market cap of £237.78 million, a P/E ratio of 1,231.67 and a beta of 0.78. The stock has a 50 day moving average price of GBX 320.07 and a 200 day moving average price of GBX 325.23.

About Kitwave Group

Kitwave Group plc is a delivered wholesale business with over 1,500 employees and a network of 32 depots able to support delivery throughout the UK, specialising in selling impulse products (such as confectionery, soft drinks, snacks, ice cream), frozen and chilled foods, alcohol, groceries and tobacco to over 42,000, mainly independent, customers.