Alphawave IP Group (LON:AWE) Shares Up 14.9% – Here’s What Happened

Shares of Alphawave IP Group plc (LON:AWE) were up 14.9% during mid-day trading on Tuesday . The stock traded as high as GBX 144.20 ($1.78) and last traded at GBX 143.20 ($1.77). Approximately 3,649,579 shares changed hands during trading, a decline of 33% from the average daily volume of 5,461,295 shares. The stock had previously closed at GBX 124.60 ($1.54).

Alphawave IP Group Price Performance

The business’s fifty day moving average is GBX 113.28 and its 200 day moving average is GBX 123.56. The company has a market cap of £1.06 billion, a P/E ratio of -1,591.11, a PEG ratio of 0.44 and a beta of 0.89. The company has a current ratio of 0.62, a quick ratio of 15.51 and a debt-to-equity ratio of 53.89.

Insider Transactions at Alphawave IP Group

In other news, insider John Lofton Holt acquired 415,416 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were purchased at an average price of GBX 23 ($0.28) per share, for a total transaction of £95,545.68 ($117,812.18). Insiders own 43.96% of the company’s stock.

Alphawave IP Group Company Profile

Faced with the exponential growth of data, Alphawave IP’s technology services a critical need: enabling data to travel faster, more reliably and with higher performance at lower power. Alphawave IP is a global leader in high-speed connectivity for the world’s technology infrastructure. Our IP solutions therefore meet the needs of global tier-one customers in data centers, compute, networking, AI, 5G, autonomous vehicles, and storage.