ASOS (LON:ASC) Stock Price Up 18.4% – Here’s Why

Shares of ASOS Plc (LON:ASC) rose 18.4% on Saturday . The stock traded as high as GBX 318.60 ($4.11) and last traded at GBX 301.80 ($3.90). Approximately 1,883,284 shares changed hands during mid-day trading, an increase of 268% from the average daily volume of 511,206 shares. The stock had previously closed at GBX 255 ($3.29).

Analyst Upgrades and Downgrades

Separately, Shore Capital upgraded shares of ASOS to a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ASOS has an average rating of “Hold” and a consensus price target of GBX 391 ($5.05).

ASOS Stock Up 18.4 %

The firm’s 50-day simple moving average is GBX 352.73 and its 200 day simple moving average is GBX 384.27. The company has a market cap of £361.77 million, a P/E ratio of -1.07, a PEG ratio of -1.26 and a beta of 2.86. The company has a debt-to-equity ratio of 187.55, a quick ratio of 0.39 and a current ratio of 1.61.

About ASOS

ASOS Plc operates as an online fashion retailer in the United Kingdom, the United States, Australia, France, Germany, Spain, Italy, Sweden, the Netherlands, Denmark, Poland, and internationally. It offers womenswear and menswear products. The company sells its products under the ASOS Design, ASOS Edition, ASOS Luxe, ASOS 4505, Collusion, Reclaimed Vintage, Topshop, Topman, Miss Selfridge, HIIT, AsYou, Dark Future, UNRVLLD/SPPLY, Crooked Tongues, Daysocial, Actual, and Weekend Collective brands, as well as through third-party brands.