Iofina (LON:IOF) Share Price Passes Above 200-Day Moving Average – Here’s Why

Iofina plc (LON:IOF) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 20.10 ($0.26) and traded as high as GBX 21.50 ($0.28). Iofina shares last traded at GBX 20.51 ($0.27), with a volume of 341,231 shares.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 37.50 ($0.49) price target on shares of Iofina in a research note on Thursday, January 23rd.

Iofina Stock Down 1.2 %

The stock has a market cap of £49.24 million, a PE ratio of 14.39 and a beta of 0.71. The business has a fifty day moving average of GBX 21.58 and a 200-day moving average of GBX 20.10. The company has a debt-to-equity ratio of 11.11, a current ratio of 2.60 and a quick ratio of 1.56.

Iofina Company Profile

Iofina plc is a vertically integrated company that specialises in the production of Iodine and the manufacturing of specialty chemical products and derivatives. Iofina is the second largest producer of iodine in North America and operates the manufacturing entities, Iofina Resources, and Iofina Chemical.