Kooth (LON:KOO) Shares Up 10.6% – Should You Buy?

Kooth plc (LON:KOO)’s share price rose 10.6% during trading on Tuesday . The stock traded as high as GBX 183.33 ($2.30) and last traded at GBX 179.75 ($2.25). Approximately 118,080 shares changed hands during trading, an increase of 47% from the average daily volume of 80,369 shares. The stock had previously closed at GBX 162.50 ($2.04).

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KOO. Berenberg Bank reiterated a “buy” rating and issued a GBX 590 ($7.40) target price on shares of Kooth in a report on Tuesday, September 17th. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 580 ($7.27) price objective on shares of Kooth in a research note on Tuesday, September 17th.

Kooth Stock Up 11.1 %

The company has a current ratio of 2.19, a quick ratio of 2.36 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average price is GBX 177.19 and its 200-day moving average price is GBX 264.32. The company has a market cap of £65.84 million, a P/E ratio of 1,504.08 and a beta of 0.71.

Insiders Place Their Bets

In other Kooth news, insider Timothy John Barker purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of GBX 160 ($2.01) per share, for a total transaction of £32,000 ($40,135.46). Corporate insiders own 17.30% of the company’s stock.

Kooth Company Profile

Kooth plc, together with its subsidiaries, provides digital mental health services to children, young people, and adults in the United Kingdom. It operates online platforms that offers various therapeutic support and interventions, including anonymous and personalised mental health support; and a community with a library of peer and professional created content, as well as provides online counselling, coaching, and support services under the Kooth, Qwell, and Soluna names.