MYCELX Technologies (LON:MYX) Shares Cross Below 200 Day Moving Average – Here’s Why

Shares of MYCELX Technologies Co. (LON:MYX) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 52.80 ($0.68) and traded as low as GBX 38 ($0.49). MYCELX Technologies shares last traded at GBX 39 ($0.51), with a volume of 2,500 shares traded.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 95 ($1.23) price target on shares of MYCELX Technologies in a research report on Tuesday, September 24th.

MYCELX Technologies Stock Up 1.3 %

The company has a current ratio of 2.93, a quick ratio of 2.97 and a debt-to-equity ratio of 23.15. The stock has a 50-day simple moving average of GBX 44.33 and a 200-day simple moving average of GBX 52.80. The company has a market cap of £9.38 million, a price-to-earnings ratio of -354.55 and a beta of 1.00.

Insiders Place Their Bets

In other news, insider André Schnabl acquired 48,836 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average price of GBX 51 ($0.66) per share, for a total transaction of £24,906.36 ($32,299.78). 19.26% of the stock is currently owned by insiders.

About MYCELX Technologies

MYCELX Technologies Corporation, a clean water technology company, provides water treatment solutions to the oil and gas, power, marine, and heavy manufacturing sectors in the Middle East, the United States, Nigeria, Australia and internationally. The company offers oil removal solutions for upstream produced water to oil companies; and hydrocarbons removal services from downstream process wastewater that are used in petrochemical facilities and refineries.