Iofina (LON:IOF) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Shares of Iofina plc (LON:IOF) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 20.12 ($0.26) and traded as high as GBX 21.64 ($0.28). Iofina shares last traded at GBX 21.19 ($0.27), with a volume of 145,523 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 37.50 ($0.49) price target on shares of Iofina in a research note on Thursday, January 23rd.

Iofina Stock Performance

The company has a quick ratio of 1.56, a current ratio of 2.60 and a debt-to-equity ratio of 11.11. The stock has a market cap of £50.86 million, a price-to-earnings ratio of 14.87 and a beta of 0.71. The company has a 50 day simple moving average of GBX 21.15 and a 200 day simple moving average of GBX 20.12.

About Iofina

Iofina plc is a vertically integrated company that specialises in the production of Iodine and the manufacturing of specialty chemical products and derivatives. Iofina is the second largest producer of iodine in North America and operates the manufacturing entities, Iofina Resources, and Iofina Chemical.