IG Design Group (LON:IGR) Stock Price Down 58.7% – Here’s Why

IG Design Group plc (LON:IGR)’s share price dropped 58.7% during mid-day trading on Friday . The stock traded as low as GBX 57 ($0.69) and last traded at GBX 58.80 ($0.72). Approximately 6,975,295 shares traded hands during mid-day trading, an increase of 820% from the average daily volume of 757,951 shares. The stock had previously closed at GBX 142.50 ($1.73).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lowered their target price 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 Trading Down 58.2 %

The business’s 50-day simple moving average is GBX 132.46 and its 200-day simple moving average is GBX 159.27. The company has a current ratio of 1.88, a quick ratio of 0.85 and a debt-to-equity ratio of 35.04. The company has a market cap of £56.79 million, a PE ratio of 212.86 and a beta of 1.08.

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.