Avation (LON:AVAP) Trading Up 6.6% – Here’s Why

Shares of Avation PLC (LON:AVAP) were up 6.6% on Friday . The company traded as high as GBX 178 ($2.31) and last traded at GBX 177 ($2.30). Approximately 323,866 shares changed hands during mid-day trading, an increase of 136% from the average daily volume of 137,462 shares. The stock had previously closed at GBX 166 ($2.16).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group decreased their target price on Avation from GBX 280 ($3.64) to GBX 255 ($3.31) and set a “buy” rating for the company in a research report on Thursday, September 26th.

Avation Stock Performance

The company has a current ratio of 1.39, a quick ratio of 1.33 and a debt-to-equity ratio of 263.30. The company has a market capitalization of £124.04 million, a PE ratio of 840.48, a PEG ratio of -0.15 and a beta of 1.17. The firm’s 50-day simple moving average is GBX 139.40 and its 200-day simple moving average is GBX 132.05.

About Avation

Avation PLC, together with its subsidiaries, leases commercial passenger aircraft to airlines worldwide. The company's fleet includes 13 narrow-body jets, two twin-aisle jets, and 21 ATR 72 twin-engine turboprop aircraft. As of June 30, 2023, the company owned and managed a fleet of 36 aircraft.