IG Design Group (LON:IGR) Shares Down 57.9% – Here’s What Happened

IG Design Group plc (LON:IGR) was down 57.9% during mid-day trading on Friday . The company traded as low as GBX 57 ($0.69) and last traded at GBX 60 ($0.73). Approximately 6,660,522 shares traded hands during mid-day trading, an increase of 810% from the average daily volume of 731,720 shares. The stock had previously closed at GBX 142.50 ($1.73).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group decreased their price target on shares of IG Design Group from GBX 325 ($3.95) to GBX 270 ($3.29) and set a “buy” rating for the company in a report on Thursday, September 26th.

IG Design Group Trading Down 58.2 %

The company has a debt-to-equity ratio of 35.04, a current ratio of 1.88 and a quick ratio of 0.85. The company’s fifty day moving average is GBX 132.46 and its 200-day moving average is GBX 159.27. The stock has a market cap of £56.79 million, a PE 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.