IG Design Group (LON:IGR) Stock Price Down 58.6% – Here’s What Happened

IG Design Group plc (LON:IGR)’s share price traded down 58.6% during trading on Friday . The stock traded as low as GBX 57 ($0.70) and last traded at GBX 59 ($0.72). 5,778,589 shares changed hands during trading, an increase of 778% from the average session volume of 658,226 shares. The stock had previously closed at GBX 142.50 ($1.74).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group decreased their price target on shares of IG Design Group from GBX 325 ($3.98) to GBX 270 ($3.30) and set a “buy” rating for the company in a report on Thursday, September 26th.

IG Design Group Stock Performance

The stock has a market capitalization of £55.70 million, a price-to-earnings ratio of 208.77 and a beta of 1.08. The company has a current ratio of 1.88, a quick ratio of 0.85 and a debt-to-equity ratio of 35.04. The stock’s 50 day moving average is GBX 133.97 and its two-hundred day moving average is GBX 159.96.

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.