ASOS (LON:ASC) Trading 18.4% Higher – Should You Buy?

ASOS Plc (LON:ASC) shares shot up 18.4% during mid-day trading on Saturday . The company 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).

Wall Street Analysts Forecast Growth

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

ASOS Stock Up 18.4 %

The stock has a 50-day moving average of GBX 352.73 and a two-hundred day moving average of GBX 384.27. The company has a market cap of £361.77 million, a P/E ratio of -1.07, a P/E/G 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.