IP Group (LON:IPO) Stock Price Crosses Below 50 Day Moving Average of $78.99

Shares of IP Group Plc (LON:IPO) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $78.99 and traded as low as $73.70. IP Group shares last traded at $73.70, with a volume of 126,103 shares.

IPO has been the topic of several analyst reports. Numis Securities initiated coverage on IP Group in a report on Thursday, May 30th. They set a “buy” rating and a GBX 162 ($2.12) price objective on the stock. Berenberg Bank restated a “buy” rating on shares of IP Group in a report on Thursday, April 25th.

The company has a debt-to-equity ratio of 9.92, a current ratio of 7.07 and a quick ratio of 7.05. The stock has a fifty day moving average of GBX 78.28. The firm has a market cap of $784.82 million and a P/E ratio of -2.67.

About IP Group (LON:IPO)

IP Group Plc is a private equity and venture capital firm specializing in seed, early stage, start-up, incubation, and mature financing. The firm also provides seed capital financing to spin out companies from the universities. It seeks to invest in the life sciences, physical sciences, energy & renewables, medical equipment and supplies, healthcare, technology, cleantech, intellectual property, pharmaceuticals & biotechnology, information technology & communications, and chemicals & materials.

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