discoverIE Group (LON:DSCV) Stock Price Up 1.3% – Here’s Why

Posted by Tyrone Williams on Jan 2nd, 2025

Shares of discoverIE Group plc (LON:DSCV – Get Free Report) rose 1.3% during trading on Tuesday . The company traded as high as GBX 716 ($8.96) and last traded at GBX 715 ($8.95). Approximately 27,404 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 209,375 shares. The stock had previously closed at GBX 706 ($8.83).

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Berenberg Bank reiterated a “buy” rating and set a GBX 950 ($11.89) price objective on shares of discoverIE Group in a research note on Monday, December 9th. Shore Capital upgraded shares of discoverIE Group to a “hold” rating in a research report on Wednesday, December 4th.

Check Out Our Latest Research Report on DSCV

discoverIE Group Stock Performance

The company has a current ratio of 1.55, a quick ratio of 0.96 and a debt-to-equity ratio of 77.89. The company has a market cap of £676.38 million, a P/E ratio of 4,406.25 and a beta of 1.09. The company has a 50 day moving average price of GBX 686.51 and a 200-day moving average price of GBX 663.52.

discoverIE Group Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, January 24th. Shareholders of record on Thursday, December 12th will be paid a dividend of GBX 3.90 ($0.05) per share. This represents a yield of 0.62%. The ex-dividend date of this dividend is Thursday, December 12th. discoverIE Group’s payout ratio is 7,500.00%.

Insider Transactions at discoverIE Group

In related news, insider Simon Gibbins purchased 7,822 shares of the stock in a transaction dated Tuesday, October 15th. The stock was bought at an average cost of GBX 634 ($7.93) per share, for a total transaction of £49,591.48 ($62,051.40). Company insiders own 4.50% of the company’s stock.

About discoverIE Group

(Get Free Report)

discoverIE Group plc is an international group of businesses that design and manufacture innovative electronic components for industrial use. The Group provides application-specific components to original equipment manufacturers (“OEMs”) internationally, with a focus on key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, transportation and industrial & connectivity.

The Group employs c.4,500 people across 20 countries.