Morgan Advanced Materials (LON:MGAM) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Morgan Advanced Materials plc (LON:MGAM) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 274.82 ($3.46) and traded as low as GBX 270.50 ($3.40). Morgan Advanced Materials shares last traded at GBX 272.50 ($3.43), with a volume of 1,139,115 shares traded.

Analysts Set New Price Targets

MGAM has been the subject of several research analyst reports. Royal Bank of Canada dropped their price objective on shares of Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.03) and set an “outperform” rating for the company in a research report on Thursday, November 7th. Citigroup upped their target price on shares of Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the company a “buy” rating in a research report on Thursday, January 23rd.

Morgan Advanced Materials Stock Down 1.6 %

The company has a market cap of £759.68 million, a P/E ratio of 11.09, a PEG ratio of 0.51 and a beta of 1.34. The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19. The firm’s 50-day simple moving average is GBX 267.14 and its 200 day simple moving average is GBX 273.94.

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.