Mobico Group (LON:MCG) Stock Price Down 2.8% – Here’s Why

Mobico Group Plc (LON:MCG)’s stock price dropped 2.8% during mid-day trading on Tuesday . The company traded as low as GBX 68.25 ($0.89) and last traded at GBX 68.30 ($0.89). Approximately 645,183 shares traded hands during trading, a decline of 71% from the average daily volume of 2,251,580 shares. The stock had previously closed at GBX 70.25 ($0.91).

Analyst Upgrades and Downgrades

MCG has been the subject of a number of research analyst reports. Berenberg Bank restated a “hold” rating and set a GBX 66 ($0.86) price objective on shares of Mobico Group in a report on Thursday, August 22nd. Royal Bank of Canada boosted their price target on Mobico Group from GBX 65 ($0.84) to GBX 70 ($0.91) and gave the company a “sector perform” rating in a research note on Friday, August 23rd.

Mobico Group Stock Down 2.9 %

The firm has a market capitalization of £425.87 million, a P/E ratio of -301.52 and a beta of 1.60. The firm has a 50 day moving average of GBX 71.15 and a 200-day moving average of GBX 61.05.

About Mobico Group

Mobico Group Plc engages in providing public transport services in the United Kingdom, Germany, Spain, Morocco, Switzerland, the United States, Canada, France, and Portugal. The company operates through UK, German Rail, ALSA, and North America segments. It owns and leases vehicles. The company also provides student transportation, urban bus, regional/long haul coach, rail, and charter and other services; transit and scheduled coach services; and private hire and commuter coach travel services.