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

Morgan Advanced Materials plc (LON:MGAM) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 277.62 ($3.44) and traded as low as GBX 259.50 ($3.22). Morgan Advanced Materials shares last traded at GBX 261.50 ($3.24), with a volume of 2,064,934 shares trading hands.

Analyst Ratings Changes

MGAM has been the topic of a number of research analyst reports. Citigroup boosted their target price on Morgan Advanced Materials from GBX 325 ($4.03) to GBX 330 ($4.09) and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada decreased their price objective on shares of Morgan Advanced Materials from GBX 350 ($4.34) to GBX 320 ($3.97) and set an “outperform” rating on the stock in a research report on Thursday, November 7th.

Morgan Advanced Materials Trading Down 1.5 %

The business has a 50 day moving average of GBX 266.38 and a 200-day moving average of GBX 277.62. The stock has a market cap of £744.12 million, a PE ratio of 1,089.58, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 93.89.

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.