Alphawave IP Group (LON:AWE) Shares Up 14.6% – Here’s What Happened

Alphawave IP Group plc (LON:AWE)’s stock price rose 14.6% during trading on Tuesday . The stock traded as high as GBX 144.20 ($1.78) and last traded at GBX 142.80 ($1.76). Approximately 52,751,980 shares changed hands during mid-day trading, an increase of 488% from the average daily volume of 8,968,609 shares. The stock had previously closed at GBX 124.60 ($1.54).

Alphawave IP Group Stock Up 14.9 %

The firm has a market cap of £1.06 billion, a PE ratio of -1,591.11, a price-to-earnings-growth ratio of 0.44 and a beta of 0.89. The business has a 50-day moving average price of GBX 113.28 and a two-hundred day moving average price of GBX 123.56. The company has a quick ratio of 15.51, a current ratio of 0.62 and a debt-to-equity ratio of 53.89.

Insiders Place Their Bets

In other Alphawave IP Group news, insider John Lofton Holt bought 415,416 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were purchased at an average price of GBX 23 ($0.28) per share, with a total value of £95,545.68 ($117,812.18). 43.96% of the stock is owned by company insiders.

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.