IG Design Group (LON:IGR) Shares Down 59.1% – Time to Sell?

IG Design Group plc (LON:IGR)’s share price fell 59.1% during mid-day trading on Friday . The company traded as low as GBX 58 ($0.71) and last traded at GBX 58.30 ($0.71). 4,509,529 shares changed hands during trading, an increase of 716% from the average session volume of 552,471 shares. The stock had previously closed at GBX 142.50 ($1.73).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group dropped their price target on shares of 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 firm has a 50-day moving average of GBX 132.46 and a 200 day moving average of 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 stock has a market capitalization of £56.79 million, a price-to-earnings ratio of 212.86 and a beta of 1.08.

IG Design Group Company Profile

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.