Invinity Energy Systems (LON:IES) Shares Down 4.9% – Here’s What Happened

Shares of Invinity Energy Systems plc (LON:IES) were down 4.9% during trading on Wednesday . The company traded as low as GBX 8.69 ($0.11) and last traded at GBX 8.80 ($0.12). Approximately 736,129 shares changed hands during mid-day trading, an increase of 5% from the average daily volume of 699,494 shares. The stock had previously closed at GBX 9.25 ($0.12).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 40 ($0.52) price objective on shares of Invinity Energy Systems in a research report on Monday, September 9th.

Invinity Energy Systems Price Performance

The stock has a 50-day simple moving average of GBX 16.07 and a 200 day simple moving average of GBX 20.42. The company has a debt-to-equity ratio of 4.60, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market cap of £38.77 million, a P/E ratio of -97.78 and a beta of 2.23.

About Invinity Energy Systems

Invinity Energy Systems plc manufactures and sells vanadium flow batteries (VFB) for energy storage solutions in the United Kingdom, Canada, the United States, Australia, and China. It also offers electric related services. The company provides batteries for energy storage for utilities and developers, commercial and industrial, and off-grid and microgrid applications.