ASOS (LON:ASC) Shares Up 18.4% – Here’s Why

ASOS Plc (LON:ASC)’s share price shot up 18.4% on Saturday . The stock traded as high as GBX 318.60 ($4.11) and last traded at GBX 301.80 ($3.90). 1,883,284 shares traded hands during trading, an increase of 268% from the average session volume of 511,206 shares. The stock had previously closed at GBX 255 ($3.29).

Analyst Ratings Changes

Separately, Shore Capital upgraded shares of ASOS to a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of GBX 391 ($5.05).

ASOS Price Performance

The business has a 50-day simple moving average of GBX 352.73 and a 200 day simple moving average of GBX 384.02. The firm has a market cap of £361.77 million, a P/E ratio of -1.07, a price-to-earnings-growth ratio of -1.26 and a beta of 2.86. The company has a debt-to-equity ratio of 187.55, a quick ratio of 0.39 and a current ratio of 1.61.

About ASOS

ASOS Plc operates as an online fashion retailer in the United Kingdom, the United States, Australia, France, Germany, Spain, Italy, Sweden, the Netherlands, Denmark, Poland, and internationally. It offers womenswear and menswear products. The company sells its products under the ASOS Design, ASOS Edition, ASOS Luxe, ASOS 4505, Collusion, Reclaimed Vintage, Topshop, Topman, Miss Selfridge, HIIT, AsYou, Dark Future, UNRVLLD/SPPLY, Crooked Tongues, Daysocial, Actual, and Weekend Collective brands, as well as through third-party brands.