Auction Technology Group (LON:ATG) Shares Up 23.6% – What’s Next?
by Scott Moore · The Cerbat GemAuction Technology Group plc (LON:ATG – Get Free Report) rose 23.6% during trading on Monday . The company traded as high as GBX 339 and last traded at GBX 335. Approximately 1,540,043 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 2,407,325 shares. The stock had previously closed at GBX 270.95.
More Auction Technology Group News
Here are the key news stories impacting Auction Technology Group this week:
- Positive Sentiment: Board rejects takeover approaches from FitzWalter and says offers were not recommended, signaling management confidence in ATG’s standalone value and leaving open the possibility of higher bids or alternative strategic options. Read More.
- Neutral Sentiment: LSE briefing reports the company has turned down as many as 11 approaches — the process appears active but unresolved, which could either attract other bidders or prolong uncertainty while the board pursues its strategy. Read More.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on ATG shares. Berenberg Bank decreased their price objective on shares of Auction Technology Group from GBX 560 to GBX 460 and set a “buy” rating for the company in a report on Thursday, November 27th. Royal Bank Of Canada decreased their price target on shares of Auction Technology Group from GBX 415 to GBX 315 and set a “sector perform” rating for the company in a research note on Tuesday, December 2nd. JPMorgan Chase & Co. increased their price objective on Auction Technology Group from GBX 690 to GBX 695 and gave the stock an “overweight” rating in a research note on Friday, November 28th. Finally, Peel Hunt reduced their price objective on Auction Technology Group from GBX 730 to GBX 460 and set a “buy” rating on the stock in a report on Tuesday, December 2nd. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of GBX 549.
Check Out Our Latest Research Report on ATG
Auction Technology Group Trading Up 23.6%
The stock has a market capitalization of £403.87 million, a P/E ratio of -2.83 and a beta of 1.29. The stock’s 50 day moving average price is GBX 287.65 and its 200-day moving average price is GBX 346.56. The company has a quick ratio of 1.36, a current ratio of 0.62 and a debt-to-equity ratio of 18.16.
About Auction Technology Group
Auction Technology Group plc (“ATG”) is the operator of the world’s leading marketplaces and auction services for curated online auctions, seamlessly connecting bidders from around the world to over 3,800 trusted auction houses across two major sectors: Industrial & Commercial (“I&C”) and Art & Antiques (“A&A”).
The Group powers eight online marketplaces and listing sites using its proprietary auction platform technology, hosting in excess of 70,000 live and timed auctions each year. ATG has been supporting the auction industry since 1971 and the Group has offices in the UK, US and Germany.