Morgan Advanced Materials (LON:MGAM) Shares Pass Below 200-Day Moving Average – Here’s What Happened

Morgan Advanced Materials plc (LON:MGAM)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 288.49 ($3.62) and traded as low as GBX 267 ($3.35). Morgan Advanced Materials shares last traded at GBX 268 ($3.36), with a volume of 149,784 shares trading hands.

Analysts Set New Price Targets

Several research firms recently weighed in on MGAM. Deutsche Bank Aktiengesellschaft cut their price objective on Morgan Advanced Materials from GBX 335 ($4.20) to GBX 320 ($4.01) and set a “hold” rating on the stock in a report on Friday, September 13th. Royal Bank of Canada lowered their price objective on Morgan Advanced Materials from GBX 350 ($4.39) to GBX 320 ($4.01) and set an “outperform” rating for the company in a research note on Thursday, November 7th.

Morgan Advanced Materials Stock Performance

The firm has a market capitalization of £762.62 million, a P/E ratio of 1,116.67, a P/E/G ratio of 0.51 and a beta of 1.34. The stock has a fifty day simple moving average of GBX 258.99 and a two-hundred day simple moving average of GBX 288.49. The company has a debt-to-equity ratio of 93.89, a current ratio of 2.19 and a quick ratio of 1.26.

About Morgan Advanced Materials

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013.