Mitie Group (LON:MTO) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Mitie Group plc (LON:MTO)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 114.75 ($1.49) and traded as high as GBX 118.80 ($1.54). Mitie Group shares last traded at GBX 117.60 ($1.52), with a volume of 49,414,660 shares traded.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank assumed coverage on shares of Mitie Group in a research note on Tuesday, January 28th. They issued a “buy” rating and a GBX 160 ($2.07) target price for the company.

Mitie Group Price Performance

The stock has a market capitalization of £1.48 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The company has a debt-to-equity ratio of 85.41, a quick ratio of 0.83 and a current ratio of 0.90. The stock has a 50-day simple moving average of GBX 116.13 and a 200 day simple moving average of GBX 114.75.

Insider Buying and Selling

In other Mitie Group news, insider Derek Mapp acquired 8,802 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were acquired at an average cost of GBX 111 ($1.44) per share, for a total transaction of £9,770.22 ($12,649.17). Corporate insiders own 5.65% of the company’s stock.

Mitie Group Company Profile

Mitie Group plc, together with its subsidiaries, provides facilities management and professional services in the United Kingdom and internationally. The company operates in four segments: Business Services, Technical Services, Central Government & Defense (CG&D), Communities. The company provides decarbonization, electrical grid connections, emission intelligence, energy and carbon, EV fleets, and heat solutions, as well as solar energy; cleaning and hygiene, engineering maintenance, integrated facilities management, landscape, and waste management services; project and workplace services; and Fire & security systems, front of house, intelligence, vetting, and security guarding service.