discoverIE Group (LON:DSCV) Trading Up 2.2% - Still a Buy?

discoverIE Group plc (LON:DSCV - Get Free Report)'s share price shot up 2.2% on Wednesday . The company traded as high as GBX 568 ($7.32) and last traded at GBX 567 ($7.31). 100,022 shares were traded during mid-day trading, a decline of 73% from the average session volume of 364,642 shares. The stock had previously closed at GBX 555 ($7.15).

Wall Street Analyst Weigh In

A number of analysts have commented on DSCV shares. Berenberg Bank reiterated a "buy" rating and issued a GBX 950 ($12.25) price target on shares of discoverIE Group in a research note on Monday, December 9th. Shore Capital reaffirmed a "hold" rating on shares of discoverIE Group in a research report on Thursday, January 30th.

discoverIE Group Stock Performance

The company has a debt-to-equity ratio of 77.88, a quick ratio of 0.96 and a current ratio of 1.55. The company has a market cap of £471.56 million, a P/E ratio of 30.39 and a beta of 1.09. The stock's fifty day moving average price is GBX 576.55 and its two-hundred day moving average price is GBX 630.96.

Insider Buying and Selling at discoverIE Group

In other news, insider Bruce Thompson bought 12,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of GBX 544 ($7.01) per share, with a total value of £65,280 ($84,145.40). Also, insider Clive Watson purchased 5,000 shares of discoverIE Group stock in a transaction that occurred on Monday, March 3rd. The stock was acquired at an average cost of GBX 543 ($7.00) per share, with a total value of £27,150 ($34,996.13). In the last quarter, insiders have purchased 17,175 shares of company stock worth $9,349,400. Insiders own 4.50% of the company's stock.

About discoverIE Group

discoverIE Group plc is an international group of businesses that design and manufacture innovative electronic components for industrial use. The Group provides application-specific components to original equipment manufacturers (“OEMs”) internationally, with a focus on key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, transportation and industrial & connectivity. The Group employs c.4,500 people across 20 countries.