IG Design Group (LON:IGR) Stock Price Down 58.3% – Here’s Why

IG Design Group plc (LON:IGR) shares fell 58.3% during trading on Friday . The company traded as low as GBX 57 ($0.69) and last traded at GBX 59.49 ($0.72). 5,342,142 shares were traded during mid-day trading, an increase of 759% from the average session volume of 621,855 shares. The stock had previously closed at GBX 142.50 ($1.73).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group decreased their price objective on IG Design Group from GBX 325 ($3.95) to GBX 270 ($3.29) and set a “buy” rating on the stock in a research note on Thursday, September 26th.

IG Design Group Price Performance

The firm has a market cap of £56.79 million, a PE ratio of 212.86 and a beta of 1.08. The firm’s fifty day simple moving average is GBX 132.46 and its two-hundred day simple moving average is GBX 159.27. The company has a quick ratio of 0.85, a current ratio of 1.88 and a debt-to-equity ratio of 35.04.

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.